PDT Partners LLC Has $292,000 Stock Holdings in Cloudflare, Inc. $NET

Key Points

• PDT Partners LLC has significantly reduced its stake in Cloudflare, Inc., selling 16,934 shares to hold only 2,592 shares, a decrease of 86.7%.
• Following a recent quarterly earnings report, Cloudflare reported $512.32 million in revenue, exceeding expectations and marking a 27.8% increase year-over-year.
• Notable insider transactions included CFO Thomas J. Seifert selling 41,555 shares for over $7.9 million, reflecting a 17.98% decrease in his ownership.

PDT Partners LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 86.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,592 shares of the company's stock after selling 16,934 shares during the period. PDT Partners LLC's holdings in Cloudflare were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mather Group LLC. boosted its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. acquired a new position in shares of Cloudflare in the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC grew its position in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the period. Finally, Global Financial Private Client LLC raised its stake in Cloudflare by 38,100.0% during the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after acquiring an additional 381 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Shares of NYSE NET traded up $0.63 during midday trading on Tuesday, reaching $218.55. 1,670,393 shares of the company traded hands, compared to its average volume of 3,506,326. Cloudflare, Inc. has a 52 week low of $74.88 and a 52 week high of $220.99. The stock has a 50-day moving average price of $198.63 and a 200 day moving average price of $160.06. 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 company has a market cap of $76.16 billion, a price-to-earnings ratio of -642.79 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at $65,282,726.25. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 687,029 shares of company stock valued at $130,970,115. Insiders own 10.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Needham & Company LLC lifted their target price on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Guggenheim lifted their target price on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. JMP Securities lifted their target price on Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a research note on Monday, July 28th. Royal Bank Of Canada lifted their target price on Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, KeyCorp upped their price target on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Cloudflare presently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

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.