Berkshire Capital Holdings Inc. Sells 9,390 Shares of Cloudflare, Inc. $NET

Berkshire Capital Holdings Inc. trimmed its position in shares of Cloudflare, Inc. (NYSE:NET) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,230 shares of the company’s stock after selling 9,390 shares during the period. Cloudflare accounts for approximately 7.0% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 2nd biggest position. Berkshire Capital Holdings Inc.’s holdings in Cloudflare were worth $20,020,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC lifted its stake in Cloudflare by 6,945.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 272,738 shares of the company’s stock valued at $53,410,000 after purchasing an additional 268,867 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in Cloudflare in the second quarter valued at approximately $214,000. Goldstream Capital Management Ltd acquired a new stake in shares of Cloudflare in the second quarter valued at approximately $5,144,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new stake in Cloudflare during the 2nd quarter valued at $432,000. Finally, Daiwa Securities Group Inc. boosted its position in Cloudflare by 1.6% during the second quarter. Daiwa Securities Group Inc. now owns 25,052 shares of the company’s stock worth $4,906,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $213.64 on Thursday. 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 company has a market cap of $74.83 billion, a PE ratio of -712.13 and a beta of 1.94. The company has a 50 day moving average of $214.57 and a 200-day moving average of $202.92. Cloudflare, Inc. has a 1-year low of $89.42 and a 1-year high of $260.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $562.03 million for the quarter, compared to the consensus estimate of $544.65 million. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The company’s revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $196.84, for a total transaction of $590,520.00. Following the completion of the transaction, the insider directly owned 113,101 shares in the company, valued at approximately $22,262,800.84. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $194.18, for a total value of $8,069,149.90. Following the sale, the chief financial officer directly owned 137,486 shares in the company, valued at approximately $26,697,031.48. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 638,528 shares of company stock valued at $131,882,116. 10.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citizens Jmp increased their price target on shares of Cloudflare from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $199.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Jefferies Financial Group initiated coverage on shares of Cloudflare in a research note on Friday, October 31st. They issued a “hold” rating and a $250.00 price target on the stock. Susquehanna increased their target price on shares of Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Cloudflare from $250.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.33.

Cloudflare Company 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.