LJI Wealth Management LLC Cuts Stock Position in Cloudflare, Inc. (NYSE:NET)

LJI Wealth Management LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 26.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,200 shares of the company’s stock after selling 2,650 shares during the quarter. LJI Wealth Management LLC’s holdings in Cloudflare were worth $596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elo Mutual Pension Insurance Co lifted its holdings in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the last quarter. Blair William & Co. IL increased its position in Cloudflare by 2.3% during the 2nd quarter. Blair William & Co. IL now owns 32,865 shares of the company’s stock valued at $2,722,000 after buying an additional 752 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Cloudflare by 5.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,422 shares of the company’s stock valued at $2,106,000 after buying an additional 1,330 shares during the last quarter. Amalgamated Bank boosted its holdings in Cloudflare by 3.6% in the second quarter. Amalgamated Bank now owns 20,316 shares of the company’s stock worth $1,683,000 after acquiring an additional 714 shares in the last quarter. Finally, Andar Capital Management HK Ltd grew its stake in shares of Cloudflare by 44.0% during the second quarter. Andar Capital Management HK Ltd now owns 57,600 shares of the company’s stock worth $4,771,000 after acquiring an additional 17,600 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Guggenheim lifted their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Mizuho lifted their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Piper Sandler upped 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. Cantor Fitzgerald raised 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. Finally, UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $82.00 in a research note on Tuesday, June 25th. Three investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.29.

Cloudflare Trading Down 1.3 %

NET stock opened at $78.09 on Thursday. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The firm has a market cap of $26.53 billion, a P/E ratio of -147.34 and a beta of 1.10. The company’s 50-day simple moving average is $79.44 and its 200-day simple moving average is $82.64.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. Cloudflare’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.97, for a total transaction of $1,274,550.00. Following the completion of the transaction, the chief financial officer now directly owns 309,937 shares in the company, valued at $26,335,346.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction that occurred 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 directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.97, for a total value of $1,274,550.00. Following the completion of the transaction, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at $26,335,346.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 557,062 shares of company stock valued at $44,910,811. 12.83% of the stock is owned by company insiders.

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.