IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Holdings in Cloudflare, Inc. $NET

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,972 shares of the company’s stock after selling 12,459 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Cloudflare were worth $8,807,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NET. GAMMA Investing LLC grew its position in shares of Cloudflare by 86.8% during the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $123,000 after acquiring an additional 508 shares during the period. Spire Wealth Management grew its holdings in Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $108,000 after purchasing an additional 95 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Cloudflare by 22.1% during the first quarter. Sequoia Financial Advisors LLC now owns 4,457 shares of the company’s stock valued at $502,000 after purchasing an additional 808 shares during the period. Diversified Trust Co bought a new position in shares of Cloudflare in the first quarter worth about $339,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cloudflare by 10.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,679 shares of the company’s stock valued at $2,951,000 after buying an additional 2,500 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NET. Morgan Stanley raised their target price on shares of Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Piper Sandler increased their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their target price on shares of Cloudflare from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Mizuho increased their price target on Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, KeyCorp boosted their price objective on Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.21.

Cloudflare Stock Up 3.4%

NYSE NET opened at $225.30 on Tuesday. The stock has a 50 day moving average price of $214.58 and a 200-day moving average price of $183.88. Cloudflare, Inc. has a one year low of $85.60 and a one year high of $230.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The company has a market capitalization of $78.51 billion, a P/E ratio of -662.66 and a beta of 1.99.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for the quarter, compared to analysts’ expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $215.38, for a total value of $5,522,558.58. Following the completion of the transaction, the insider owned 14,575 shares of the company’s stock, valued at approximately $3,139,163.50. This trade represents a 63.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,277 shares of Cloudflare stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $213.94, for a total value of $11,184,141.38. Following the completion of the transaction, the chief executive officer owned 107 shares of the company’s stock, valued at approximately $22,891.58. This represents a 99.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 634,540 shares of company stock worth $132,159,157. 10.89% of the stock is owned by insiders.

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.