Cloudflare, Inc. (NYSE:NET) Shares Sold by Nwam LLC

Nwam LLC reduced its position in Cloudflare, Inc. (NYSE:NET) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,508 shares of the company’s stock after selling 457 shares during the quarter. Nwam LLC’s holdings in Cloudflare were worth $437,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its stake in Cloudflare by 6.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock valued at $5,808,000 after purchasing an additional 4,300 shares during the last quarter. Truist Financial Corp grew its holdings in Cloudflare by 1.2% in the 4th quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock valued at $2,364,000 after buying an additional 331 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Cloudflare by 5.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock valued at $5,478,000 after buying an additional 3,164 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Cloudflare in the 4th quarter valued at $11,639,000. Finally, Vanguard Group Inc. grew its holdings in Cloudflare by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after buying an additional 740,914 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NET has been the subject of several analyst reports. Susquehanna dropped their target price on Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 6th. KeyCorp dropped their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Piper Sandler upped their target price on Cloudflare from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, July 15th. TD Cowen lowered their price target on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, Wolfe Research initiated coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.92.

Cloudflare Trading Up 0.2 %

NET stock opened at $78.66 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The business’s 50-day moving average is $77.18 and its two-hundred day moving average is $85.31. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 10,015 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the sale, the director now owns 1,204,815 shares of the company’s stock, valued at approximately $107,421,305.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Katrin Suder sold 574 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total transaction of $38,521.14. Following the transaction, the director now owns 51,162 shares in the company, valued at approximately $3,433,481.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 10,015 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total value of $892,937.40. Following the transaction, the director now owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 724,247 shares of company stock valued at $56,316,063. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Company Profile

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.