Executive Wealth Management LLC Sells 515 Shares of Cloudflare, Inc. (NYSE:NET)

Executive Wealth Management LLC reduced its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,692 shares of the company’s stock after selling 515 shares during the period. Executive Wealth Management LLC’s holdings in Cloudflare were worth $2,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. RFG Advisory LLC boosted its holdings in Cloudflare by 18.7% in the 2nd quarter. RFG Advisory LLC now owns 8,672 shares of the company’s stock worth $718,000 after buying an additional 1,366 shares during the period. ORG Partners LLC boosted its holdings in Cloudflare by 7,510.0% in the 2nd quarter. ORG Partners LLC now owns 761 shares of the company’s stock worth $64,000 after buying an additional 751 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Cloudflare by 2.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 24,567 shares of the company’s stock worth $2,035,000 after buying an additional 537 shares during the period. Blue Trust Inc. boosted its holdings in Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 752 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Cloudflare by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after buying an additional 19,446 shares during the period. 82.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on NET shares. Mizuho raised their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Scotiabank increased their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $94.40.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $113.87 on Tuesday. The firm has a market cap of $39.08 billion, a PE ratio of -437.96 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $93.42 and its two-hundred day simple moving average is $83.99.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now owns 185,386 shares of the company’s stock, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $27,790,303.10. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 486,364 shares of company stock valued at $44,223,466 in the last quarter. Insiders own 12.83% of the company’s stock.

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.