ASB Consultores LLC Has $339,000 Position in Cloudflare, Inc. (NYSE:NET)

ASB Consultores LLC lowered its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 39.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,091 shares of the company’s stock after selling 2,659 shares during the quarter. ASB Consultores LLC’s holdings in Cloudflare were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Elo Mutual Pension Insurance Co raised its position in Cloudflare by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after buying an additional 136 shares during the last quarter. Forum Financial Management LP grew its stake in Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after purchasing an additional 168 shares in the last quarter. GAMMA Investing LLC grew its stake in Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after purchasing an additional 171 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Cloudflare by 5.6% in the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock valued at $322,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NET. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $82.00 in a research note on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research note on Friday, August 2nd. Royal Bank of Canada lifted their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Finally, Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.29.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 572,062 shares of company stock valued at $46,086,211. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $82.90 on Friday. The stock has a market capitalization of $28.17 billion, a PE ratio of -156.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The business has a fifty day moving average price of $79.46 and a two-hundred day moving average price of $82.64. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same period in the previous year, the firm earned ($0.12) EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts predict that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Cloudflare 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.