B. Riley Wealth Advisors Inc. Makes New $581,000 Investment in Cloudflare, Inc. $NET

B. Riley Wealth Advisors Inc. purchased a new position in Cloudflare, Inc. (NYSE:NET) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,966 shares of the company’s stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NET. Newbridge Financial Services Group Inc. increased its position in Cloudflare by 81.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 16,916 shares of the company’s stock valued at $3,313,000 after acquiring an additional 7,568 shares during the last quarter. Liontrust Investment Partners LLP increased its position in shares of Cloudflare by 76.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 117,475 shares of the company’s stock valued at $23,005,000 after purchasing an additional 50,763 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Cloudflare by 1.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 350,869 shares of the company’s stock valued at $68,703,000 after purchasing an additional 6,478 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Cloudflare by 40.7% in the 2nd quarter. Corient Private Wealth LLC now owns 25,244 shares of the company’s stock worth $4,944,000 after purchasing an additional 7,301 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Cloudflare in the second quarter worth approximately $1,243,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. Piper Sandler upped their price objective on Cloudflare from $224.00 to $249.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Mizuho raised their price objective on Cloudflare from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. UBS Group boosted their price objective on Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Citigroup increased their target price on shares of Cloudflare from $255.00 to $318.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and two 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 $234.41.

Cloudflare Stock Performance

Shares of NET opened at $197.56 on Wednesday. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The stock has a fifty day moving average price of $213.05 and a 200-day moving average price of $204.29. 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 firm has a market cap of $69.20 billion, a PE ratio of -658.54 and a beta of 1.94.

Cloudflare (NYSE:NET) last issued its 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. The firm had revenue of $562.03 million during the quarter, compared to analysts’ expectations of $544.65 million. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The firm’s revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $215.51, for a total transaction of $11,289,275.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $199.26, for a total transaction of $6,993,826.74. Following the sale, the insider owned 24,555 shares in the company, valued at approximately $4,892,829.30. This trade represents a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 692,330 shares of company stock valued at $142,993,749 in the last quarter. Insiders own 10.89% of the company’s stock.

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.