Cloudflare, Inc. $NET Shares Sold by MYDA Advisors LLC

Key Points

• MYDA Advisors LLC has reduced its stake in Cloudflare, Inc. by 61.1%, selling 11,000 shares and leaving them with a total of 7,000 shares worth approximately $789,000.
• Several institutional investors have increased their holdings in Cloudflare, with Dimensional Fund Advisors LP raising its stake by 5.4% and Tower Research Capital LLC TRC increasing theirs by 184.3% in the last quarter.
• Cloudflare recently reported earnings exceeding analyst expectations, with $0.21 earnings per share and revenues of $512.32 million, a year-over-year increase of 27.8%.

MYDA Advisors LLC lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 61.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,000 shares of the company's stock after selling 11,000 shares during the quarter. MYDA Advisors LLC's holdings in Cloudflare were worth $789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after acquiring an additional 508 shares during the last quarter. Wealthedge Investment Advisors LLC lifted its position in shares of Cloudflare by 64.5% during the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock worth $1,367,000 after purchasing an additional 4,755 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Cloudflare by 7.0% during the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after purchasing an additional 1,400 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NET. Needham & Company LLC raised their target price on shares of Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Capital One Financial raised shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. KeyCorp raised their target price on shares of Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Mizuho raised their target price on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Citigroup raised their target price on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Stock Performance

Shares of NET traded down $4.46 during mid-day trading on Monday, reaching $208.96. 2,095,088 shares of the company's stock were exchanged, compared to its average volume of 2,356,969. The business's fifty day simple moving average is $196.16 and its 200-day simple moving average is $158.05. Cloudflare, Inc. has a 52-week low of $74.88 and a 52-week high of $219.00. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The stock has a market capitalization of $72.82 billion, a PE ratio of -614.60 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the firm posted $0.20 EPS. Cloudflare's quarterly revenue was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the sale, the insider owned 14,575 shares of the company's stock, valued at approximately $2,851,015.75. This trade represents a 63.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $198.22, for a total value of $594,660.00. Following the completion of the sale, the insider directly owned 157,377 shares of the company's stock, valued at approximately $31,195,268.94. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 728,705 shares of company stock valued at $137,798,322 in the last quarter. Corporate insiders own 10.89% of the company's stock.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.