Corient Private Wealth LLC Sells 8,331 Shares of Cloudflare, Inc. $NET

Key Points

• Corient Private Wealth LLC cut its Cloudflare stake by 24.7% in the fourth quarter, selling 8,331 shares and leaving it with 25,449 shares valued at about $5.0 million.
• Cloudflare reported better-than-expected quarterly results, posting EPS of $0.25 versus $0.23 expected and revenue of $639.75 million, up 33.5% year over year.
• Analysts remain generally positive on NET, with a Moderate Buy consensus rating and an average price target of $241.35, even as several insiders sold shares in recent months.

Corient Private Wealth LLC reduced its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,449 shares of the company's stock after selling 8,331 shares during the quarter. Corient Private Wealth LLC's holdings in Cloudflare were worth $5,014,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NET. IMA Advisory Services Inc. boosted its holdings in Cloudflare by 4.5% in the fourth quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company's stock valued at $254,000 after acquiring an additional 55 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Cloudflare by 5.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company's stock valued at $218,000 after purchasing an additional 57 shares in the last quarter. Certuity LLC lifted its holdings in shares of Cloudflare by 1.8% during the fourth quarter. Certuity LLC now owns 3,156 shares of the company's stock valued at $622,000 after purchasing an additional 57 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its position in shares of Cloudflare by 2.0% in the 4th quarter. Cigna Investments Inc. New now owns 3,062 shares of the company's stock worth $604,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

Cloudflare stock opened at $237.06 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $276.82. The firm's fifty day moving average is $222.06 and its 200 day moving average is $203.62. The company has a market cap of $83.79 billion, a price-to-earnings ratio of -948.24, a PEG ratio of 228.27 and a beta of 1.70.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The business had revenue of $639.75 million for the quarter, compared to analysts' expectations of $620.83 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business's revenue was up 33.5% compared to the same quarter last year. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. Sell-side analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NET. New Street Research reaffirmed a "market outperform" rating on shares of Cloudflare in a research report on Monday, June 15th. Truist Financial boosted their target price on Cloudflare from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a research note on Monday, April 20th. Sanford C. Bernstein restated a "market perform" rating and set a $136.00 price target on shares of Cloudflare in a report on Wednesday, June 10th. Finally, BTIG Research lifted their price target on Cloudflare from $243.00 to $269.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.35.

Insider Activity

In other news, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total transaction of $7,506,418.40. Following the completion of the sale, the insider owned 47,425 shares of the company's stock, valued at approximately $10,148,001.50. The trade was a 42.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $210.02, for a total value of $11,001,687.68. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 566,245 shares of company stock worth $121,338,593 in the last ninety days. 10.66% of the stock is currently owned by insiders.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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