Congress Asset Management Co. Sells 6,824 Shares of Cloudflare, Inc. $NET

Congress Asset Management Co. trimmed its position in Cloudflare, Inc. (NYSE:NET) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 220,097 shares of the company’s stock after selling 6,824 shares during the quarter. Congress Asset Management Co.’s holdings in Cloudflare were worth $76,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Financial Management LLC boosted its position in Cloudflare by 65.3% in the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Cloudflare in the 2nd quarter worth approximately $30,000. CX Institutional raised its position in Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock worth $33,000 after buying an additional 44 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in Cloudflare during the 2nd quarter worth approximately $33,000. Finally, Ancora Advisors LLC acquired a new stake in Cloudflare during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Sanford C. Bernstein upped their price objective on shares of Cloudflare from $164.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, September 17th. Robert W. Baird set a $330.00 target price on shares of Cloudflare in a report on Friday, August 7th. Needham & Company LLC boosted their target price on shares of Cloudflare from $280.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada upped their price target on shares of Cloudflare from $290.00 to $346.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Truist Financial increased their price target on Cloudflare from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.33.

Insider Activity

In related news, insider Michelle Zatlyn sold 33,003 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $277.43, for a total transaction of $9,156,022.29. Following the sale, the insider owned 69,775 shares in the company, valued at approximately $19,357,678.25. This trade represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alissa Michelle Starzak sold 2,538 shares of Cloudflare stock in a transaction on 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 transaction, the insider directly owned 112,082 shares of the company’s stock, valued at $34,149,143.76. The trade was a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 392,833 shares of company stock valued at $115,040,919 in the last three months. Corporate insiders own 10.66% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock traded down $3.78 during mid-day trading on Tuesday, hitting $355.71. The company had a trading volume of 2,589,652 shares, compared to its average volume of 4,113,934. 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 12-month low of $158.83 and a 12-month high of $370.35. The company’s fifty day moving average is $310.01 and its 200-day moving average is $256.66. The company has a market capitalization of $125.73 billion, a price-to-earnings ratio of -613.30, a P/E/G ratio of 277.63 and a beta of 1.65.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $696.06 million for the quarter, compared to analysts’ expectations of $664.66 million. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The business’s revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. 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 EPS for the current year.

Key Stories Impacting Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: BTIG upgraded Cloudflare to “Buy” and raised its price target from $382 to $413, implying approximately 16% upside from the referenced price. The upgrade reflects confidence in Cloudflare’s growth prospects and helped the stock reach a new 12-month high. BTIG Research Issues Positive Forecast for Cloudflare Stock Price
• Positive Sentiment: Cloudflare’s product momentum remains a key support for NET. Company data cited by the market ranked Cloudflare as the fastest provider across 74% of the top 1,000 networks, reinforcing its competitive position as machine-generated internet traffic and AI usage expand. Why Cloudflare Stock Is Trading Up Today
• Positive Sentiment: A partnership with Deutsche Telekom could broaden Cloudflare’s European enterprise distribution and create additional opportunities in cybersecurity and connectivity services. Strong AI-security demand and growth among large customers have also supported the stock’s six-month advance. Can Cloudflare’s Deutsche Telekom Deal Drive Enterprise Growth?
• Neutral Sentiment: A cooler-than-expected U.S. jobs report fueled a broader technology rally and increased investor appetite for higher-beta cloud shares, contributing to Cloudflare’s recent outperformance. Cloudflare Climbs as Risk Appetite Favors High-Beta Cloud Names
• Negative Sentiment: Cloudflare’s roughly 65% six-month gain and valuation near its 52-week high have raised concerns that expectations are already very high. Analysts cite margin pressure and a premium valuation as reasons investors may lock in profits, which could explain the stock’s recent weakness despite favorable news. NET Stock Surges 65% in Six Months

Cloudflare Company Profile

Cloudflare, Inc is a connectivity cloud company that provides services designed to help organizations make their websites, applications and networks more secure, reliable and faster. Its global network sits between users and the services they access, supporting content delivery, domain name system services, traffic optimization and protection against distributed denial-of-service attacks and other online threats.

The company offers a range of application and network security products, including web application firewalls, bot management, application programming interface protection, zero-trust security and secure access services.