Moore Capital Management LP Sells 5,645 Shares of Cloudflare, Inc. $NET

Key Points

• Moore Capital Management reduced its Cloudflare stake by 53.6% in the second quarter, selling 5,645 shares and retaining 4,891 shares valued at approximately $1.2 million.
• Cloudflare insiders sold 640,531 shares worth about $168.5 million in the last quarter, while institutional investors collectively own 82.68% of the company.
• Analyst sentiment remains a Moderate Buy, with a consensus price target of $320.19, despite some sell and strong-sell ratings. Cloudflare also exceeded quarterly earnings and revenue expectations, reporting $0.29 EPS and $696.1 million in revenue.

Moore Capital Management LP lowered its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 53.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,891 shares of the company's stock after selling 5,645 shares during the quarter. Moore Capital Management LP's holdings in Cloudflare were worth $1,200,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in Cloudflare in the fourth quarter valued at about $25,000. Wiser Advisor Group LLC purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $26,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Cloudflare in the 2nd quarter worth approximately $30,000. Wexford Capital LP purchased a new position in Cloudflare in the third quarter valued at approximately $30,000. Finally, CX Institutional lifted its stake in Cloudflare by 49.4% in the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 55,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $300.30, for a total transaction of $16,516,500.00. Following the sale, the chief financial officer owned 113,790 shares in the company, valued at $34,171,137. This trade represents a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total value of $9,723,673.89. Following the transaction, the insider owned 69,775 shares in the company, valued at $20,557,808.25. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 640,531 shares of company stock valued at $168,474,753 in the last quarter. Insiders own 10.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a research report on Friday, July 17th. Susquehanna increased their price target on Cloudflare from $200.00 to $300.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. The Goldman Sachs Group reissued a "buy" rating and issued a $389.00 price objective on shares of Cloudflare in a report on Friday, August 7th. Scotiabank boosted their price objective on Cloudflare from $300.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, DZ Bank downgraded shares of Cloudflare from a "strong-buy" rating to a "strong sell" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $320.19.

Cloudflare Price Performance

NYSE:NET opened at $306.30 on Tuesday. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $332.22. The stock has a fifty day moving average of $276.18 and a 200 day moving average of $232.91. 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 firm has a market capitalization of $108.27 billion, a price-to-earnings ratio of -528.10, a P/E/G ratio of 184.12 and a beta of 1.65.

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

Cloudflare Company 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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