Reynders McVeigh Capital Management LLC Decreases Stake in Cloudflare, Inc. $NET

Reynders McVeigh Capital Management LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,669 shares of the company’s stock after selling 2,741 shares during the period. Cloudflare comprises 1.4% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Cloudflare were worth $34,994,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Cloudflare by 13.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,790 shares of the company’s stock valued at $2,401,000 after purchasing an additional 1,139 shares in the last quarter. Van Hulzen Asset Management LLC grew its stake in shares of Cloudflare by 2.4% during the second quarter. Van Hulzen Asset Management LLC now owns 4,675 shares of the company’s stock worth $1,147,000 after purchasing an additional 110 shares in the last quarter. Whetstone Capital Advisors LLC increased its holdings in Cloudflare by 51.7% in the second quarter. Whetstone Capital Advisors LLC now owns 292,861 shares of the company’s stock valued at $71,833,000 after buying an additional 99,830 shares during the last quarter. National Pension Service increased its holdings in Cloudflare by 1.6% in the second quarter. National Pension Service now owns 959,987 shares of the company’s stock valued at $235,466,000 after buying an additional 15,546 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Cloudflare in the second quarter valued at $355,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NET. Mizuho increased their price objective on Cloudflare from $260.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. KeyCorp upped their price target on Cloudflare from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $136.00 price target on shares of Cloudflare in a research note on Wednesday, June 10th. Citigroup reiterated a “market outperform” rating on shares of Cloudflare in a research note on Monday, August 31st. Finally, Truist Financial raised their price objective on shares of Cloudflare from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $320.19.

Cloudflare Stock Performance

Shares of NYSE NET traded down $3.17 during trading hours on Tuesday, reaching $327.19. The stock had a trading volume of 3,033,341 shares, compared to its average volume of 4,205,718. The firm has a 50-day moving average of $287.59 and a 200-day moving average of $240.67. The firm has a market cap of $115.65 billion, a price-to-earnings ratio of -564.12, a PEG ratio of 250.57 and a beta of 1.66. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $334.60.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Equities research analysts predict that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alissa Michelle Starzak sold 2,538 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $304.68, for a total transaction of $773,277.84. Following the completion of the sale, the insider owned 112,082 shares in the company, valued at approximately $34,149,143.76. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Seifert sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $307.32, for a total value of $3,073,200.00. Following the transaction, the chief financial officer directly owned 110,846 shares in the company, valued at approximately $34,065,192.72. This represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 683,083 shares of company stock valued at $181,754,532. 10.66% of the stock is owned by insiders.

Cloudflare Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.