SouthState Corp Trims Holdings in Cloudflare, Inc. $NET

SouthState Corp trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 61.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 238 shares of the company’s stock after selling 380 shares during the quarter. SouthState Corp’s holdings in Cloudflare were worth $47,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC grew its holdings in Cloudflare by 218.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock valued at $33,000 after buying an additional 306 shares in the last quarter. Hilltop National Bank bought a new position in shares of Cloudflare in the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC bought a new position in shares of Cloudflare in the second quarter valued at approximately $39,000. Cullen Frost Bankers Inc. purchased a new position in Cloudflare during the second quarter valued at approximately $45,000. Finally, Whipplewood Advisors LLC grew its stake in Cloudflare by 277.6% during the second quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 3.2%

NYSE NET opened at $233.03 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 stock’s 50-day simple moving average is $220.49 and its two-hundred day simple moving average is $191.82. Cloudflare, Inc. has a twelve month low of $87.24 and a twelve month high of $260.00. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of -776.77 and a beta of 2.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $544.87 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 41,555 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total transaction of $7,922,045.20. Following the completion of the sale, the chief financial officer directly owned 189,517 shares of the company’s stock, valued at $36,129,520.88. This trade represents a 17.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 638,060 shares of company stock worth $133,217,328 over the last ninety days. Insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. KeyCorp increased their target price on shares of Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Jefferies Financial Group started coverage on shares of Cloudflare in a report on Friday, October 31st. They issued a “hold” rating and a $250.00 price target on the stock. Stifel Nicolaus increased their price objective on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Citizens Jmp boosted their target price on Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Finally, DZ Bank upgraded Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.16.

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.