NewEdge Advisors LLC Has $6.98 Million Stock Holdings in Cloudflare, Inc. $NET

Key Points

• NewEdge Advisors cut its Cloudflare stake by 42.8% in the second quarter, selling 21,275 shares and retaining 28,475 shares valued at approximately $6.98 million.
• Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and adjusted EPS of $0.29, beating analyst expectations. The stock was recently trading near $306, close to its 52-week high of $332.22.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $320.19, although insiders sold roughly $186.2 million of stock during the past quarter.

NewEdge Advisors LLC decreased its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 42.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,475 shares of the company's stock after selling 21,275 shares during the period. NewEdge Advisors LLC's holdings in Cloudflare were worth $6,984,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NET. California State Teachers Retirement System boosted its holdings in shares of Cloudflare by 24,491.6% during the 2nd quarter. California State Teachers Retirement System now owns 114,562,194 shares of the company's stock worth $28,099,815,000 after buying an additional 114,096,335 shares in the last quarter. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter valued at $718,316,000. Jennison Associates LLC lifted its position in shares of Cloudflare by 135.8% during the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock valued at $906,758,000 after acquiring an additional 2,530,872 shares during the period. Corient Private Wealth LLC lifted its position in shares of Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock valued at $275,887,000 after acquiring an additional 1,365,598 shares during the period. Finally, Swedbank AB boosted its stake in Cloudflare by 697.5% during the first quarter. Swedbank AB now owns 927,606 shares of the company's stock worth $191,402,000 after acquiring an additional 811,297 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Price Performance

Cloudflare stock opened at $306.22 on Monday. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $332.22. The company's 50 day moving average price is $285.92 and its two-hundred day moving average price is $239.49. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The stock has a market cap of $108.24 billion, a P/E ratio of -527.97, a P/E/G ratio of 250.57 and a beta of 1.66.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $696.06 million during the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.Cloudflare's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. 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, equities analysts predict that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Cloudflare from $200.00 to $300.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Citizens Jmp reissued a "market outperform" rating and set a $394.00 price objective on shares of Cloudflare in a research report on Monday, August 31st. KeyCorp raised their target price on Cloudflare from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. BTIG Research boosted their target price on Cloudflare from $314.00 to $382.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Benchmark lowered Cloudflare to an "underperform" rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $320.19.

Insider Activity

In related news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $307.32, for a total transaction of $3,073,200.00. Following the completion of the transaction, the chief financial officer owned 110,846 shares in the company, valued at approximately $34,065,192.72. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $277.43, for a total transaction of $9,156,022.29. Following the sale, the insider owned 69,775 shares of the company's stock, valued at $19,357,678.25. This trade represents a 32.11% decrease in their position. 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. Over the last quarter, insiders sold 703,724 shares of company stock worth $186,167,272. 10.66% of the stock is owned by insiders.

Cloudflare Company Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

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

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