Pier 88 Investment Partners LLC Sells 4,540 Shares of Cloudflare, Inc. $NET

Pier 88 Investment Partners LLC lowered its stake in Cloudflare, Inc. (NYSE:NET) by 35.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,180 shares of the company’s stock after selling 4,540 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Cloudflare were worth $1,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock valued at $352,610,000 after acquiring an additional 786,063 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cloudflare in the first quarter valued at about $88,203,000. American Century Companies Inc. boosted 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 buying an additional 779,819 shares during the period. Raymond James Financial Inc. boosted its position in shares of Cloudflare by 129.7% during the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock worth $123,647,000 after buying an additional 619,526 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock worth $3,475,011,000 after buying an additional 538,850 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 3.2%

NYSE NET opened at $233.03 on Friday. Cloudflare, Inc. has a 12 month low of $87.24 and a 12 month high of $260.00. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $220.49 and a 200-day moving average of $191.82. The company has a market cap of $81.21 billion, a PE ratio of -776.77 and a beta of 2.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $544.87 million. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $250.83, for a total value of $632,091.60. Following the completion of the sale, the director directly owned 495,191 shares of the company’s stock, valued at $124,208,758.53. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $211.81, for a total value of $2,118,100.00. Following the transaction, the chief financial officer owned 189,517 shares of the company’s stock, valued at $40,141,595.77. This represents a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 638,060 shares of company stock worth $133,217,328 in the last three months. Insiders own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Cloudflare from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Robert W. Baird set a $220.00 price target on shares of Cloudflare in a research note on Friday, October 31st. Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. KeyCorp increased their target price on shares of Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, UBS Group raised their target price on shares of Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.16.

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.