Integrated Wealth Concepts LLC Cuts Holdings in Cloudflare, Inc. $NET

Integrated Wealth Concepts LLC cut its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,945 shares of the company’s stock after selling 123 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Cloudflare were worth $1,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Cloudflare by 1.8% during the first 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 during the last quarter. American Century Companies Inc. boosted its holdings in Cloudflare by 34.5% during the first 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 during the last quarter. Northern Trust Corp boosted its holdings in 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 purchasing an additional 31,745 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cloudflare by 8.1% in 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 acquiring an additional 99,448 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Cloudflare by 129.7% in the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock valued at $123,647,000 after acquiring an additional 619,526 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

Cloudflare stock opened at $224.86 on Friday. The firm’s 50 day simple moving average is $200.72 and its 200 day simple moving average is $161.42. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $78.36 billion, a PE ratio of -661.35 and a beta of 1.95. Cloudflare, Inc. has a 1-year low of $77.60 and a 1-year high of $230.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the transaction, the insider owned 14,575 shares of the company’s stock, valued at $2,851,015.75. The trade was a 63.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total transaction of $7,922,045.20. Following the completion of the transaction, the chief financial officer directly owned 189,517 shares of the company’s stock, valued at approximately $36,129,520.88. This represents a 17.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,788 shares of company stock worth $135,600,920 in the last ninety days. Insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of research analyst reports. DZ Bank reiterated a “sell” rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Citigroup boosted their target price on shares of Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 18th. KeyCorp boosted their target price on shares of Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Mizuho boosted their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Cowen reissued a “buy” rating on shares of Cloudflare in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $191.28.

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.