Cornerstone Enterprises LLC Sells 1,652 Shares of Cloudflare, Inc. $NET

Cornerstone Enterprises LLC decreased its stake in Cloudflare, Inc. (NYSE:NET) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,340 shares of the company’s stock after selling 1,652 shares during the quarter. Cornerstone Enterprises LLC’s holdings in Cloudflare were worth $813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC boosted its holdings in Cloudflare by 18.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 466 shares of the company’s stock worth $162,000 after buying an additional 72 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Cloudflare by 32.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,023 shares of the company’s stock worth $332,000 after buying an additional 252 shares in the last quarter. Saxony Capital Management LLC acquired a new position in shares of Cloudflare during the third quarter valued at approximately $262,000. Assenagon Asset Management S.A. raised its holdings in shares of Cloudflare by 119.7% during the third quarter. Assenagon Asset Management S.A. now owns 89,582 shares of the company’s stock valued at $31,110,000 after acquiring an additional 48,806 shares during the last quarter. Finally, Formuepleje A S acquired a new position in shares of Cloudflare during the third quarter valued at approximately $585,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

NET opened at $314.76 on Friday. The firm has a market capitalization of $111.26 billion, a PE ratio of -542.69, a PEG ratio of 257.95 and a beta of 1.65. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $370.35. The firm’s 50-day moving average price is $319.61 and its 200 day moving average price is $263.78. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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 analysts’ expectations of $664.66 million. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. Cloudflare’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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, sell-side analysts expect that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NET shares. Susquehanna raised their target price on Cloudflare from $200.00 to $300.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. DZ Bank cut Cloudflare from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, August 7th. Zacks Research cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Royal Bank Of Canada increased their price objective on Cloudflare from $290.00 to $346.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Moderate Buy” and an average target price of $330.59.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 33,003 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total value of $9,723,673.89. Following the completion of the sale, the insider directly owned 69,775 shares in the company, valued at $20,557,808.25. This represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Seifert sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total value of $16,516,500.00. Following the completion of the sale, the chief financial officer owned 113,790 shares of the company’s stock, valued at $34,171,137. This trade represents a 32.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 458,839 shares of company stock worth $138,172,392 in the last ninety days. Insiders own 10.66% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a connectivity cloud company that provides services designed to help organizations make their websites, applications and networks more secure, reliable and faster. Its global network sits between users and the services they access, supporting content delivery, domain name system services, traffic optimization and protection against distributed denial-of-service attacks and other online threats.

The company offers a range of application and network security products, including web application firewalls, bot management, application programming interface protection, zero-trust security and secure access services.