Cloudflare, Inc. $NET Stock Holdings Lessened by Faithward Advisors LLC

Faithward Advisors LLC cut its holdings in Cloudflare, Inc. (NYSE:NET) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,908 shares of the company’s stock after selling 2,633 shares during the period. Cloudflare comprises approximately 1.3% of Faithward Advisors LLC’s holdings, making the stock its 16th biggest position. Faithward Advisors LLC’s holdings in Cloudflare were worth $8,564,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after acquiring an additional 1,696 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Cloudflare during the 2nd quarter worth approximately $424,000. PNC Financial Services Group Inc. lifted its holdings in shares of Cloudflare by 37.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,961 shares of the company’s stock worth $1,951,000 after purchasing an additional 2,722 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Cloudflare by 108.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 663,648 shares of the company’s stock valued at $129,962,000 after purchasing an additional 344,943 shares during the period. Finally, Creative Planning grew its stake in Cloudflare by 30.5% during the 2nd quarter. Creative Planning now owns 59,061 shares of the company’s stock worth $11,566,000 after buying an additional 13,793 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of Cloudflare in a research note on Wednesday, February 11th. BTIG Research boosted their target price on shares of Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Truist Financial set a $225.00 price target on shares of Cloudflare in a research note on Tuesday, January 20th. Jefferies Financial Group boosted their price objective on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Finally, Barclays raised their target price on Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $233.38.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 41,557 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the sale, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at $15,812,038.08. The trade was a 32.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20. Following the completion of the transaction, the insider owned 34,514 shares of the company’s stock, valued at $6,467,578.46. This trade represents a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 534,031 shares of company stock worth $99,017,195 in the last three months. 10.89% of the stock is currently owned by insiders.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $211.83 on Wednesday. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock has a market cap of $74.20 billion, a PE ratio of -730.44 and a beta of 1.98. The company’s 50-day moving average price is $185.89 and its two-hundred day moving average price is $202.98.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue was up 33.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.