NZS Capital LLC Sells 194,752 Shares of Cloudflare, Inc. $NET

NZS Capital LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 64.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,753 shares of the company’s stock after selling 194,752 shares during the quarter. NZS Capital LLC’s holdings in Cloudflare were worth $22,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Physician Wealth Advisors Inc. increased its holdings 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 holdings in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Cloudflare during the second quarter valued at approximately $29,000. ORG Wealth Partners LLC raised its stake in shares of 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 in the last quarter. Finally, Cloud Capital Management LLC bought a new position in Cloudflare in the third quarter worth $31,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 1.2%

NET stock opened at $178.82 on Wednesday. The business has a fifty day moving average price of $184.97 and a 200 day moving average price of $202.72. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $62.64 billion, a price-to-earnings ratio of -616.60 and a beta of 1.98. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company’s revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $172.76, for a total value of $4,429,739.16. Following the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $5,962,638.64. This trade represents a 42.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $173.35, for a total value of $436,842.00. Following the completion of the transaction, the director directly owned 495,191 shares in the company, valued at approximately $85,841,359.85. This trade represents a 0.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 555,262 shares of company stock valued at $104,705,441 over the last 90 days. Company insiders own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NET shares. Mizuho lowered their price target on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. New Street Research set a $140.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Citigroup raised their price target on shares of Cloudflare from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Truist Financial set a $225.00 price objective on Cloudflare in a research note on Tuesday, January 20th. Finally, Susquehanna set a $190.00 target price on Cloudflare in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.70.

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.