Soltis Investment Advisors LLC Sells 7,014 Shares of Cloudflare, Inc. $NET

Key Points

• Soltis Investment Advisors reduced its Cloudflare stake by 21.6% in the third quarter, selling 7,014 shares and retaining 25,437 shares valued at approximately $8.8 million. Institutional investors and hedge funds collectively own 82.68% of Cloudflare.
• Analysts remain broadly positive, with Cloudflare receiving a “Moderate Buy” consensus rating and an average price target of $333.70; Barclays, Oppenheimer, and BTIG Research recently raised their targets.
• Cloudflare’s latest quarterly results exceeded expectations, with $0.29 in adjusted EPS versus a $0.27 estimate and revenue of $696.06 million, up 35.9% year over year. However, insiders sold roughly $143.4 million of shares over the past three months.

Soltis Investment Advisors LLC lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 21.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,437 shares of the company's stock after selling 7,014 shares during the period. Soltis Investment Advisors LLC's holdings in Cloudflare were worth $8,834,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NET. GK Wealth Management LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC boosted its holdings in shares of Cloudflare by 65.3% in the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company's stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Cloudflare during the second quarter valued at approximately $30,000. CX Institutional increased its stake in shares of Cloudflare by 49.4% during the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after acquiring an additional 44 shares during the period. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Cloudflare during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NET. Barclays upped their target price on Cloudflare from $355.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Oppenheimer lifted their price target on Cloudflare from $380.00 to $430.00 and gave the company an "outperform" rating in a research report on Friday, October 9th. Robert W. Baird set a $330.00 price target on Cloudflare in a research report on Friday, August 7th. BTIG Research boosted their price objective on Cloudflare from $382.00 to $413.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Cloudflare to a "buy" rating in a report on Tuesday, July 7th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $333.70.

Cloudflare Price Performance

Shares of NYSE:NET opened at $310.04 on Friday. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $370.35. The stock has a fifty day moving average of $320.74 and a 200-day moving average of $247.33. The company has a market capitalization of $109.59 billion, a PE ratio of -534.56, a price-to-earnings-growth ratio of 253.49 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business 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%. The company's revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities analysts anticipate that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas Seifert sold 55,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total transaction of $16,516,500.00. Following the sale, the chief financial officer directly owned 113,790 shares of the company's stock, valued at $34,171,137. The trade was a 32.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $283.42, for a total transaction of $14,846,389.86. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 476,339 shares of company stock worth $143,439,267. Corporate insiders own 10.66% of the company's stock.

Cloudflare 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.

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