Private Advisory Group LLC Sells 17,205 Shares of Cloudflare, Inc. $NET

Private Advisory Group LLC lessened its stake in Cloudflare, Inc. (NYSE:NET) by 24.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,480 shares of the company’s stock after selling 17,205 shares during the period. Private Advisory Group LLC’s holdings in Cloudflare were worth $11,476,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake 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 in the last quarter. Westside Investment Management Inc. boosted its stake in Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after buying an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Cloudflare in the 2nd quarter valued at $29,000. ORG Wealth Partners LLC increased its holdings in Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after buying an additional 70 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in shares of Cloudflare in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of analyst reports. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, February 13th. Robert W. Baird set a $260.00 price objective on Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. UBS Group restated a “neutral” rating and set a $220.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. Mizuho lowered their price target on Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Finally, Truist Financial set a $225.00 price objective on Cloudflare in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $173.35, for a total value of $436,842.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $190.05, for a total value of $4,873,072.05. Following the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $4,666,677.75. The trade was a 51.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 378,093 shares of company stock valued at $74,578,759 over the last three months. Insiders own 10.89% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $176.99 on Monday. 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 $62.00 billion, a PE ratio of -610.29 and a beta of 1.97. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s fifty day moving average is $188.52 and its 200-day moving average is $204.21.

Cloudflare (NYSE:NET) last issued its quarterly earnings results 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. The business had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS 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.