Executive Wealth Management LLC Has $2.73 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Executive Wealth Management LLC lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,692 shares of the company’s stock after selling 515 shares during the quarter. Executive Wealth Management LLC’s holdings in Cloudflare were worth $2,725,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after acquiring an additional 412,864 shares during the last quarter. Capital World Investors increased its position in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after acquiring an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after acquiring an additional 19,446 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. UBS Group boosted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday. Scotiabank raised their target price on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.88.

Cloudflare Stock Performance

NET opened at $91.30 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52-week low of $61.34 and a 52-week high of $116.00. The firm has a market cap of $31.20 billion, a P/E ratio of -314.83 and a beta of 1.10. The business’s fifty day moving average is $84.77 and its 200-day moving average is $80.74.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 3,495 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the sale, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cloudflare news, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the transaction, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the completion of the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock valued at $39,737,342 over the last three months. 12.83% of the stock is owned by insiders.

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.