Carnegie Investment Counsel Trims Stake in Cloudflare, Inc. $NET

Carnegie Investment Counsel cut its position in Cloudflare, Inc. (NYSE:NET) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,033 shares of the company’s stock after selling 25,285 shares during the quarter. Carnegie Investment Counsel’s holdings in Cloudflare were worth $32,839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cloudflare by 2.1% in the second quarter. Vanguard Group Inc. now owns 31,495,565 shares of the company’s stock valued at $6,167,776,000 after buying an additional 658,656 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cloudflare by 5.1% during the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after acquiring an additional 270,227 shares during 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% in the 1st 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 during the period. Norges Bank purchased a new stake in Cloudflare in the 2nd quarter valued at $541,462,000. Finally, Charles Schwab Investment Management Inc. raised its position in Cloudflare by 3.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,368,906 shares of the company’s stock valued at $268,073,000 after purchasing an additional 47,698 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Guggenheim reissued a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Citizens Jmp increased their target price on shares of Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Needham & Company LLC boosted their price target on Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wells Fargo & Company upped their price objective on Cloudflare from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price objective for the company in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.78.

Cloudflare Price Performance

Shares of NYSE:NET opened at $202.56 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $210.20 and a 200 day moving average price of $205.23. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a market cap of $70.95 billion, a P/E ratio of -675.21 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 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 business had revenue of $562.03 million during the quarter, compared to the consensus estimate of $544.65 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $201.23, for a total transaction of $10,541,232.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Katrin Suder sold 2,031 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $200.00, for a total transaction of $406,200.00. Following the completion of the transaction, the director owned 37,723 shares of the company’s stock, valued at $7,544,600. This represents a 5.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 628,079 shares of company stock valued at $128,603,861 in the last quarter. Corporate insiders own 10.89% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.