Pier 88 Investment Partners LLC Has $1.17 Million Holdings in Cloudflare, Inc. $NET

Pier 88 Investment Partners LLC trimmed its position in shares of Cloudflare, Inc. (NYSE:NET) by 33.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,450 shares of the company’s stock after selling 2,730 shares during the period. Pier 88 Investment Partners LLC’s holdings in Cloudflare were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare during the second quarter valued at approximately $29,000. ORG Wealth Partners LLC raised its holdings in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after buying an additional 70 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Cloudflare during the 3rd quarter worth $32,000. Quaker Wealth Management LLC boosted its stake in 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 buying an additional 306 shares in the last quarter. Finally, Stone House Investment Management LLC grew its position in Cloudflare by 700.0% in the third quarter. Stone House Investment Management LLC now owns 160 shares of the company’s stock valued at $34,000 after acquiring an additional 140 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $189.47, for a total transaction of $9,925,196.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $190.05, for a total transaction of $4,873,072.05. Following the sale, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $4,666,677.75. This trade represents a 51.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 619,213 shares of company stock worth $122,370,244. 10.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NET shares. Robert W. Baird set a $230.00 price target on shares of Cloudflare in a research note on Wednesday, December 17th. Wells Fargo & Company boosted their target price on shares of Cloudflare from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Citigroup cut their price objective on Cloudflare from $318.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Argus upped their target price on Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.48.

Cloudflare Price Performance

Cloudflare stock opened at $189.41 on Tuesday. The stock’s 50 day moving average is $194.97 and its 200 day moving average is $206.00. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The firm has a market cap of $66.35 billion, a P/E ratio of -631.36, a P/E/G ratio of 114.08 and a beta of 1.96. 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 (NYSE:NET) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $562.03 million during the quarter, compared to analyst estimates of $544.65 million. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The company’s revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 EPS. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. As a group, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare Profile

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.