Bleakley Financial Group LLC Has $293,000 Stock Position in Cloudflare, Inc. (NYSE:NET)

Bleakley Financial Group LLC grew its holdings in Cloudflare, Inc. (NYSE:NET) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,620 shares of the company’s stock after purchasing an additional 313 shares during the period. Bleakley Financial Group LLC’s holdings in Cloudflare were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NET. Riverview Trust Co bought a new position in Cloudflare in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. CVA Family Office LLC lifted its stake in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP grew its position in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare in the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NET. BNP Paribas initiated coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Susquehanna boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Cantor Fitzgerald upped their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.72.

Cloudflare Trading Down 0.9 %

NET opened at $87.64 on Thursday. The company has a fifty day moving average price of $82.93 and a two-hundred day moving average price of $80.79. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The company has a market cap of $29.78 billion, a P/E ratio of -165.36 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 EPS 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 firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. Analysts predict that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $78.71, for a total transaction of $1,180,650.00. Following the completion of the sale, the chief financial officer now owns 309,937 shares in the company, valued at approximately $24,395,141.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 522,552 shares of company stock worth $42,994,705 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

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.