8,635 Shares in Cloudflare, Inc. $NET Acquired by CSM Advisors LLC

CSM Advisors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,635 shares of the company’s stock, valued at approximately $1,854,000.

Several other hedge funds have also added to or reduced their stakes in the business. Physician Wealth Advisors Inc. increased its holdings in shares of Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Westside Investment Management Inc. raised 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 acquired a new stake in shares of Cloudflare during the 2nd quarter worth about $29,000. ORG Wealth Partners LLC lifted its stake 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 during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Cloudflare during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 41,557 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the completion of the transaction, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. The trade was a 32.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 523,690 shares of company stock valued at $96,821,800. 10.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NET shares. Barclays upped their price target on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Guggenheim raised their price objective on shares of Cloudflare from $117.00 to $140.00 and gave the stock a “sell” rating in a research report on Wednesday, February 11th. KeyCorp restated an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Finally, Mizuho lowered their target price on Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Cloudflare Price Performance

Cloudflare stock opened at $207.47 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The stock has a market capitalization of $72.67 billion, a P/E ratio of -715.40 and a beta of 1.98. The stock has a fifty day moving average of $185.61 and a 200-day moving average of $202.96.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating 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 business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same period last year, the firm posted $0.19 earnings per share. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.