Cloudflare, Inc. $NET is Peregrine Capital Management LLC’s 3rd Largest Position

Peregrine Capital Management LLC lowered its stake in Cloudflare, Inc. (NYSE:NET) by 20.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 477,838 shares of the company’s stock after selling 123,915 shares during the quarter. Cloudflare comprises 3.1% of Peregrine Capital Management LLC’s portfolio, making the stock its 3rd largest position. Peregrine Capital Management LLC owned about 0.14% of Cloudflare worth $102,539,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare during the second quarter valued at approximately $29,000. Quaker Wealth Management LLC boosted its stake in shares of Cloudflare by 218.6% in the second quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock valued at $33,000 after purchasing an additional 306 shares during the period. Hilltop National Bank acquired a new stake in Cloudflare during the 2nd quarter valued at $36,000. Ameritas Advisory Services LLC acquired a new position in Cloudflare in the 2nd quarter worth $39,000. Finally, Salomon & Ludwin LLC purchased a new position in Cloudflare in the 3rd quarter valued at about $41,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Zacks highlights Cloudflare’s strong history of beating estimates and says the company is set up to potentially outpace consensus again — a fundamental positive that can support the stock if results repeat. Cloudflare (NET) Ascends While Market Falls
• Positive Sentiment: Profile pieces note strong long‑term returns (e.g., ~374% over three years), which can sustain investor confidence and attract momentum buyers despite short‑term noise. Cloudflare’s investors pleased with 374% return
• Neutral Sentiment: Analyst coverage remains mixed but broadly constructive: several firms raised targets (KeyCorp, Cantor Fitzgerald, Scotiabank) while Piper Sandler keeps a Hold — this gives the stock varied support but no consensus catalyst. MarketBeat analyst summary
• Neutral Sentiment: Institutional ownership is high and recent position adjustments have increased liquidity — that can amplify moves but does not itself indicate direction. MarketBeat: NET insider & institutional activity
• Negative Sentiment: CEO Matthew Prince sold large blocks this week (two ~52,384‑share tranches on Jan. 6 and Jan. 8, roughly $20M+ combined). Large insider sales often trigger short‑term selling pressure and investor concern about timing. Insider Selling: Matthew Prince
• Negative Sentiment: Additional director sales were filed this week (multiple directors reported sales totaling smaller, but clustered amounts) — clustered insider selling amplifies negative sentiment. Director sells reported
• Negative Sentiment: Piper Sandler cut its price target to $220 from $249 — a concrete limit on near‑term upside that can weigh on sentiment and constrain buying. Price Target Lowered to $220
• Negative Sentiment: LaLiga has publicly accused Cloudflare of ignoring illegal piracy content, creating reputational and potential legal/regulatory risk that could require costly responses or policy changes. Spanish soccer league battles Cloudflare over piracy

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on Cloudflare from $250.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Cantor Fitzgerald lifted their price objective on Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. UBS Group upped their target price on Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Robert W. Baird set a $230.00 target price on Cloudflare in a research note on Wednesday, December 17th. Finally, Guggenheim reissued a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.70.

Cloudflare Stock Performance

Shares of NET opened at $186.91 on Friday. The stock has a market capitalization of $65.47 billion, a PE ratio of -623.03, a price-to-earnings-growth ratio of 133.40 and a beta of 1.96. The business’s fifty day moving average price is $206.32 and its 200 day moving average price is $206.43. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. Cloudflare, Inc. has a 12-month low of $89.42 and a 12-month high of $260.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $562.03 million for the quarter, compared to analysts’ expectations of $544.65 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s 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 and its FY 2025 guidance at 0.910-0.910 EPS. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 41,555 shares of Cloudflare stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $194.18, for a total value of $8,069,149.90. Following the completion of the transaction, the chief financial officer directly owned 137,486 shares in the company, valued at $26,697,031.48. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $199.26, for a total value of $6,993,826.74. Following the sale, the insider owned 24,555 shares in the company, valued at $4,892,829.30. The trade was a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 690,219 shares of company stock valued at $139,226,709 over the last quarter. Insiders own 10.89% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.