Left Brain Wealth Management LLC grew its position in Cloudflare, Inc. (NYSE:NET – Free Report) by 277.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,929 shares of the company’s stock after buying an additional 13,184 shares during the period. Cloudflare makes up about 2.0% of Left Brain Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Left Brain Wealth Management LLC’s holdings in Cloudflare were worth $6,226,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. GK Wealth Management LLC purchased a new stake in shares of Cloudflare during the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC raised its holdings in Cloudflare by 65.3% in the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock worth $29,000 after acquiring an additional 47 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Cloudflare in the 2nd quarter valued at approximately $30,000. CX Institutional lifted its position in Cloudflare by 49.4% in the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 44 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in Cloudflare in the 2nd quarter valued at approximately $33,000. Institutional investors own 82.68% of the company’s stock.
Insider Buying and Selling at Cloudflare
In other news, CFO Thomas Seifert sold 12,500 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $299.59, for a total transaction of $3,744,875.00. Following the transaction, the chief financial officer directly owned 104,958 shares of the company’s stock, valued at $31,444,367.22. This represents a 10.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $348.29, for a total value of $11,494,614.87. Following the transaction, the insider directly owned 69,775 shares in the company, valued at $24,301,934.75. The trade was a 32.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 476,339 shares of company stock worth $143,439,267. Insiders own 10.66% of the company’s stock.
Cloudflare Stock Down 9.8%
NET opened at $279.86 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average price of $320.77 and a 200-day moving average price of $247.79. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $370.35. The stock has a market capitalization of $98.92 billion, a price-to-earnings ratio of -482.52, a PEG ratio of 246.79 and a beta of 1.65.
Cloudflare (NYSE:NET – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company had revenue of $696.06 million for the quarter, compared to the consensus estimate of $664.66 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Equities research analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on NET. Guggenheim increased their target price on Cloudflare from $140.00 to $160.00 and gave the company a “sell” rating in a research note on Friday, August 7th. Truist Financial boosted their price target on Cloudflare from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised Cloudflare to a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research report on Thursday, October 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Cloudflare in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $333.70.
Get Our Latest Stock Analysis on NET
About Cloudflare
Cloudflare, Inc (NYSE: NET) provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.
The company’s offerings include content delivery and authoritative domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.
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