Vestor Capital LLC Has $7.16 Million Position in Cloudflare, Inc. (NYSE:NET)

Vestor Capital LLC lowered its holdings in shares of Cloudflare, Inc. (NYSE:NETGet Rating) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,836 shares of the company’s stock after selling 11,724 shares during the quarter. Vestor Capital LLC’s holdings in Cloudflare were worth $7,162,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Capital World Investors raised its position in shares of Cloudflare by 322.4% during the fourth quarter. Capital World Investors now owns 11,347,863 shares of the company’s stock worth $1,492,244,000 after purchasing an additional 8,661,214 shares during the period. State Street Corp grew its holdings in shares of Cloudflare by 1.6% during the fourth quarter. State Street Corp now owns 5,274,187 shares of the company’s stock worth $693,556,000 after buying an additional 81,860 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Cloudflare by 93.3% during the fourth quarter. First Trust Advisors LP now owns 4,945,025 shares of the company’s stock worth $650,271,000 after buying an additional 2,386,240 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 3,393,114 shares of the company’s stock worth $445,623,000 after buying an additional 256,811 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Cloudflare during the fourth quarter worth about $320,895,000. Institutional investors and hedge funds own 69.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NET shares. Mizuho increased their price objective on Cloudflare from $76.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler increased their price objective on Cloudflare from $57.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup decreased their price target on Cloudflare from $120.00 to $95.00 in a research note on Friday, May 6th. Wells Fargo & Company decreased their price target on Cloudflare from $60.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, Royal Bank of Canada raised their price target on Cloudflare from $62.00 to $74.00 in a research note on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $119.81.

Cloudflare Stock Performance

NYSE:NET traded up $15.81 during mid-day trading on Friday, hitting $74.24. 22,629,663 shares of the stock were exchanged, compared to its average volume of 4,849,662. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of -81.58 and a beta of 1.22. The firm’s 50-day simple moving average is $49.92 and its 200 day simple moving average is $79.80. The company has a debt-to-equity ratio of 2.78, a quick ratio of 6.85 and a current ratio of 6.85. Cloudflare, Inc. has a fifty-two week low of $38.96 and a fifty-two week high of $221.64.

Cloudflare (NYSE:NETGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $212.20 million for the quarter, compared to analyst estimates of $205.66 million. Cloudflare had a negative return on equity of 22.43% and a negative net margin of 35.66%. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, Director Scott D. Sandell sold 2,441 shares of Cloudflare stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $40.91, for a total value of $99,861.31. Following the completion of the transaction, the director now directly owns 3,454 shares of the company’s stock, valued at approximately $141,303.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $56.88, for a total value of $2,979,601.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott D. Sandell sold 2,441 shares of Cloudflare stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $40.91, for a total value of $99,861.31. Following the completion of the transaction, the director now directly owns 3,454 shares of the company’s stock, valued at $141,303.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,361 shares of company stock valued at $14,350,405. Insiders own 15.99% of the company’s stock.

Cloudflare Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

Further Reading

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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