Executive Wealth Management LLC Increases Position in Cloudflare, Inc. (NYSE:NET)

Executive Wealth Management LLC boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,904 shares of the company’s stock after acquiring an additional 463 shares during the period. Executive Wealth Management LLC’s holdings in Cloudflare were worth $1,990,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NET. Sunbelt Securities Inc. purchased a new position in Cloudflare during the first quarter valued at $29,000. JTC Employer Solutions Trustee Ltd bought a new position in Cloudflare during the third quarter valued at $38,000. Providence Capital Advisors LLC lifted its position in Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after purchasing an additional 848 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Carl Ledbetter sold 30,214 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total value of $2,297,170.42. Following the completion of the sale, the director now owns 1,539,316 shares of the company’s stock, valued at approximately $117,034,195.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Insiders sold a total of 965,015 shares of company stock worth $92,737,426 in the last three months. Company insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NET. Morgan Stanley increased their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Truist Financial increased their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price (up previously from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Finally, Sanford C. Bernstein initiated coverage on shares of Cloudflare in a report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $87.50.

Cloudflare Stock Performance

Shares of NYSE NET opened at $94.79 on Thursday. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00. The company has a 50 day simple moving average of $95.91 and a two-hundred day simple moving average of $80.49. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of -172.35 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. As a group, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.