Lyell Wealth Management LP Buys 2,292 Shares of Cloudflare, Inc. (NYSE:NET)

Lyell Wealth Management LP boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,673 shares of the company’s stock after purchasing an additional 2,292 shares during the period. Lyell Wealth Management LP’s holdings in Cloudflare were worth $2,554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after buying an additional 65,596 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Cloudflare during the third quarter worth about $569,000. International Assets Investment Management LLC bought a new stake in Cloudflare during the fourth quarter worth about $11,639,000. Blueshift Asset Management LLC grew its stake in Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after buying an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier grew its stake in Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after buying an additional 17,600 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 0.8 %

Cloudflare stock traded down $0.74 during mid-day trading on Thursday, reaching $86.94. The company’s stock had a trading volume of 1,379,088 shares, compared to its average volume of 3,735,314. The company has a market capitalization of $29.36 billion, a price-to-earnings ratio of -156.93 and a beta of 1.12. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00. The business’s 50 day simple moving average is $95.39 and its 200 day simple moving average is $82.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

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

Analyst Ratings Changes

NET has been the topic of several research analyst reports. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Mizuho reduced their target price on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Needham & Company LLC upped their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company upped their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Cloudflare in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $87.08.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the 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 in the company, valued at $40,351,461.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the sale, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now 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. Over the last 90 days, insiders sold 1,036,341 shares of company stock valued at $101,013,542. Corporate insiders own 14.80% of the company’s stock.

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.