Cloudflare, Inc. $NET Position Lessened by Strategy Capital LLC

Strategy Capital LLC lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,162,938 shares of the company’s stock after selling 3,004 shares during the quarter. Cloudflare makes up approximately 16.5% of Strategy Capital LLC’s holdings, making the stock its 3rd biggest holding. Strategy Capital LLC owned approximately 0.33% of Cloudflare worth $249,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NET. Physician Wealth Advisors Inc. lifted its stake in shares of Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares during the period. Westside Investment Management Inc. grew its position in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare in the second quarter valued at $29,000. ORG Wealth Partners LLC increased its stake in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in Cloudflare in the third quarter valued at $31,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $194.77, for a total value of $10,202,831.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the sale, the insider owned 34,514 shares in the company, valued at $6,467,578.46. This represents a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 577,492 shares of company stock worth $107,933,433 in the last 90 days. 10.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on NET. KeyCorp restated an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. UBS Group reaffirmed a “neutral” rating and set a $220.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Scotiabank decreased their price target on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. Piper Sandler upped their price objective on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group increased their target price on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus target price of $230.70.

Cloudflare Trading Up 1.3%

NYSE:NET opened at $194.79 on Monday. The business’s 50-day moving average is $184.30 and its two-hundred day moving average is $202.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The firm has a market capitalization of $68.23 billion, a PE ratio of -671.67 and a beta of 1.98.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue was up 33.6% compared to the same quarter last year. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company 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.