SouthState Corp Sells 380 Shares of Cloudflare, Inc. $NET

SouthState Corp lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 61.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238 shares of the company’s stock after selling 380 shares during the period. SouthState Corp’s holdings in Cloudflare were worth $47,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Cloudflare by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 203,450 shares of the company’s stock worth $22,927,000 after purchasing an additional 2,936 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Cloudflare by 2,525.0% during the first quarter. TD Private Client Wealth LLC now owns 630 shares of the company’s stock worth $71,000 after buying an additional 606 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock worth $297,000 after buying an additional 230 shares in the last quarter. Brown Advisory Inc. raised its position in Cloudflare by 186.9% in the 1st quarter. Brown Advisory Inc. now owns 6,544 shares of the company’s stock valued at $737,000 after buying an additional 4,263 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Cloudflare by 2.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,675 shares of the company’s stock valued at $1,992,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the completion of the sale, the chief financial officer owned 189,517 shares in the company, valued at $36,129,520.88. This represents a 17.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 638,060 shares of company stock valued at $133,217,328 in the last 90 days. Insiders own 10.89% of the company’s stock.

Cloudflare Stock Up 3.2%

NET opened at $233.03 on Friday. Cloudflare, Inc. has a twelve month low of $87.24 and a twelve month high of $260.00. The company’s 50-day moving average price is $220.49 and its two-hundred day moving average price is $191.82. The stock has a market cap of $81.21 billion, a price-to-earnings ratio of -776.77 and a beta of 2.10. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued 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. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The company had revenue of $430.08 million during the quarter, compared to analyst estimates of $544.87 million. During the same quarter last year, the business posted $0.20 EPS. Cloudflare’s quarterly revenue was up 30.7% compared to the same quarter last year. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on NET shares. Robert W. Baird set a $220.00 price objective on shares of Cloudflare in a report on Friday, October 31st. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Stifel Nicolaus increased their price objective on shares of Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Piper Sandler lifted their target price on shares of Cloudflare from $224.00 to $249.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Guggenheim restated a “sell” rating on shares of Cloudflare in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and an average price target of $234.16.

Cloudflare Profile

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.