Malaga Cove Capital LLC Cuts Stock Position in Cloudflare, Inc. $NET

Malaga Cove Capital LLC decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.2% in the second quarter, HoldingsChannel reports. The fund owned 11,654 shares of the company’s stock after selling 383 shares during the quarter. Malaga Cove Capital LLC’s holdings in Cloudflare were worth $2,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock worth $3,475,011,000 after purchasing an additional 538,850 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cloudflare by 33.5% during the first 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. American Century Companies Inc. boosted its stake in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cloudflare by 1.7% during the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company’s stock worth $211,957,000 after buying an additional 31,745 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cloudflare by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock valued at $148,887,000 after buying an additional 99,448 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $226.27 on Friday. The stock has a market capitalization of $78.85 billion, a P/E ratio of -754.23 and a beta of 2.10. The business has a 50 day simple moving average of $220.01 and a two-hundred day simple moving average of $190.32. Cloudflare, Inc. has a 12 month low of $87.24 and a 12 month high of $260.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $544.87 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter 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, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $210.65, for a total value of $3,159,750.00. Following the completion of the transaction, the director owned 998,073 shares in the company, valued at $210,244,077.45. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Graham-Cumming sold 2,520 shares of the business’s stock in a transaction 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 transaction, the director directly owned 495,191 shares of the company’s stock, valued at $124,208,758.53. The trade was a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 638,060 shares of company stock worth $133,217,328 over the last 90 days. 10.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on Cloudflare from $240.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Susquehanna lifted their price objective on Cloudflare from $205.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. JMP Securities set a $270.00 price objective on Cloudflare in a report on Friday, October 31st. DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price on the stock in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.