Westfield Capital Management Co. LP Takes $87.87 Million Position in Cloudflare, Inc. $NET

Westfield Capital Management Co. LP acquired a new stake in Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, Holdings Channel reports. The fund acquired 448,696 shares of the company’s stock, valued at approximately $87,868,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Daymark Wealth Partners LLC boosted its position in shares of Cloudflare by 1.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock valued at $892,000 after purchasing an additional 51 shares during the period. Huntington National Bank increased its holdings in shares of Cloudflare by 22.8% in the 2nd quarter. Huntington National Bank now owns 280 shares of the company’s stock valued at $55,000 after acquiring an additional 52 shares during the period. ORG Partners LLC boosted its stake in Cloudflare by 11.9% during the 2nd quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after purchasing an additional 53 shares during the period. Fiduciary Planning LLC boosted its stake in Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after purchasing an additional 54 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Cloudflare by 1.9% in the second quarter. Yousif Capital Management LLC now owns 4,044 shares of the company’s stock valued at $792,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $226.46, for a total value of $11,862,880.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $195.61, for a total transaction of $5,015,636.01. Following the completion of the transaction, the insider owned 14,575 shares of the company’s stock, valued at approximately $2,851,015.75. This represents a 63.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 583,955 shares of company stock worth $123,647,846 over the last quarter. 10.89% of the stock is currently owned by company insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $200.67 on Thursday. The company has a market capitalization of $70.29 billion, a price-to-earnings ratio of -673.03 and a beta of 2.10. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. 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 50-day moving average of $220.77 and a two-hundred day moving average of $197.11.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The business had revenue of $562.03 million for the quarter, compared to the consensus estimate of $544.87 million. During the same period last year, the firm posted $0.20 earnings per share. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NET. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a report on Friday, October 31st. Needham & Company LLC upped their price objective on Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen raised shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, JMP Securities set a $270.00 price target on shares of Cloudflare in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.35.

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.