Cloudflare, Inc. $NET Shares Sold by Bamco Inc. NY

Bamco Inc. NY lessened its stake in Cloudflare, Inc. (NYSE:NET) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,234 shares of the company’s stock after selling 52,239 shares during the period. Bamco Inc. NY owned about 0.13% of Cloudflare worth $97,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Cloudflare by 34.2% during the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock worth $750,000 after buying an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Cloudflare in the second quarter valued at $424,000. Savant Capital LLC raised its position in shares of Cloudflare by 20.0% in the second quarter. Savant Capital LLC now owns 3,068 shares of the company’s stock worth $601,000 after acquiring an additional 512 shares during the period. Allworth Financial LP raised its position in shares of Cloudflare by 7.7% in the second quarter. Allworth Financial LP now owns 2,994 shares of the company’s stock worth $586,000 after acquiring an additional 213 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Cloudflare by 37.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,961 shares of the company’s stock worth $1,951,000 after acquiring an additional 2,722 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Up 0.2%

NET opened at $212.46 on Friday. The company has a market cap of $74.42 billion, a PE ratio of -732.59 and a beta of 1.98. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company has a 50-day moving average price of $185.42 and a 200 day moving average price of $203.02. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last posted 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 return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the previous year, the firm posted $0.19 EPS. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $224.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. Piper Sandler upped their price target on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Scotiabank lowered their price target on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. Morgan Stanley set a $245.00 price objective on Cloudflare in a report on Wednesday, February 11th. Finally, UBS Group restated a “neutral” rating and issued a $220.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.38.

Insider Transactions at Cloudflare

In related news, CAO Janel Riley sold 23,332 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $190.00, for a total transaction of $4,433,080.00. Following the completion of the sale, the chief accounting officer directly owned 56,791 shares in the company, valued at approximately $10,790,290. The trade was a 29.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Graham-Cumming sold 2,520 shares of the firm’s 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 owned 495,191 shares in the company, valued at $85,841,359.85. The trade was a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 526,210 shares of company stock valued at $97,324,213. Insiders own 10.89% of the company’s stock.

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.