Cwm LLC Buys 4,617 Shares of Cloudflare, Inc. (NYSE:NET)

Cwm LLC raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 91.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,690 shares of the company’s stock after acquiring an additional 4,617 shares during the quarter. Cwm LLC’s holdings in Cloudflare were worth $784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NET. Riverview Trust Co bought a new stake in Cloudflare during the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its position in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cloudflare during the 2nd quarter valued at $29,000. Quarry LP boosted its position in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after acquiring an additional 421 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the completion of the transaction, the insider now owns 195,303 shares in the company, valued at approximately $15,071,532.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the sale, the insider now directly owns 195,303 shares in the company, valued at $15,071,532.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michelle Zatlyn sold 64,100 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at $15,681,643.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 507,552 shares of company stock worth $41,631,505. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

NYSE NET opened at $90.80 on Friday. The stock has a 50-day simple moving average of $82.39 and a two-hundred day simple moving average of $81.01. The firm has a market capitalization of $30.85 billion, a P/E ratio of -171.32 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. 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 (NYSE:NET) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. On average, equities analysts forecast that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

NET has been the topic of several recent research reports. Piper Sandler increased their target price on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Wolfe Research assumed coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Mizuho increased their price objective on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $91.72.

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.