Geneva Partners LLC Makes New $2.76 Million Investment in Cloudflare, Inc. $NET

Key Points

• Geneva Partners LLC acquired 7,956 Cloudflare shares worth approximately $2.76 million in the third quarter. Institutional investors collectively own 82.68% of the company.
• Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and adjusted EPS of $0.29, exceeding analyst expectations of $0.27. Shares opened at $332.86, near the company’s 52-week high of $370.35.
• Analysts have assigned Cloudflare an average “Moderate Buy” rating with a $330.59 price target, while insiders have sold 476,339 shares worth approximately $143.4 million over the past 90 days.

Geneva Partners LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,956 shares of the company's stock, valued at approximately $2,763,000.

Other hedge funds have also added to or reduced their stakes in the company. GK Wealth Management LLC bought a new stake in shares of Cloudflare in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC lifted its position in shares of Cloudflare by 65.3% during the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company's stock valued at $29,000 after acquiring an additional 47 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Cloudflare during the 2nd quarter valued at $30,000. CX Institutional boosted its stake in Cloudflare by 49.4% during the second quarter. CX Institutional now owns 133 shares of the company's stock worth $33,000 after acquiring an additional 44 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in Cloudflare during the second quarter worth $33,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Shares of NET opened at $332.86 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50 day moving average price of $319.62 and a two-hundred day moving average price of $245.41. The firm has a market capitalization of $117.65 billion, a P/E ratio of -573.89, a P/E/G ratio of 259.07 and a beta of 1.65. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $370.35.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%. The firm had revenue of $696.06 million during the quarter, compared to the consensus estimate of $664.66 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Equities analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, Director Carl Ledbetter sold 5,000 shares of the firm's stock in a transaction on Monday, October 19th. The stock was sold at an average price of $304.40, for a total transaction of $1,522,000.00. Following the transaction, the director directly owned 868,073 shares in the company, valued at approximately $264,241,421.20. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $348.29, for a total transaction of $11,494,614.87. Following the transaction, the insider directly owned 69,775 shares in the company, valued at $24,301,934.75. This represents a 32.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 476,339 shares of company stock worth $143,439,267. 10.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $340.00 price target on shares of Cloudflare in a report on Monday, October 5th. Sanford C. Bernstein upped their price objective on shares of Cloudflare from $164.00 to $181.00 and gave the company a "market perform" rating in a report on Thursday, September 17th. Susquehanna upped their price objective on shares of Cloudflare from $200.00 to $300.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Piper Sandler increased their price objective on shares of Cloudflare from $250.00 to $333.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Raymond James Financial began coverage on Cloudflare in a research report on Tuesday, July 7th. They issued a "strong-buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, Cloudflare has an average rating of "Moderate Buy" and an average price target of $330.59.

Cloudflare Company Profile

Cloudflare, Inc NYSE: NET provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.

The company's offerings include content delivery and authoritative domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.