Cloudflare, Inc. (NYSE:NET) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC reduced its stake in Cloudflare, Inc. (NYSE:NET) by 18.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,067 shares of the company’s stock after selling 462 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Cloudflare were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after buying an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter worth approximately $43,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $199.85, for a total transaction of $2,997,750.00. Following the completion of the sale, the director directly owned 1,043,073 shares in the company, valued at $208,458,139.05. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $198.22, for a total transaction of $594,660.00. Following the sale, the insider owned 157,377 shares of the company’s stock, valued at approximately $31,195,268.94. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 638,678 shares of company stock valued at $114,296,189 in the last quarter. Insiders own 10.89% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $200.85 on Tuesday. The firm has a 50 day simple moving average of $189.78 and a 200-day simple moving average of $153.17. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The firm has a market cap of $69.99 billion, a PE ratio of -590.73 and a beta of 1.84. Cloudflare, Inc. has a 1-year low of $74.88 and a 1-year high of $219.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NET. Susquehanna reduced their target price on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. Guggenheim increased their target price on shares of Cloudflare from $70.00 to $111.00 and gave the stock a “sell” rating in a report on Friday, August 1st. CICC Research upgraded shares of Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Monday, May 12th. KeyCorp increased their target price on shares of Cloudflare from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 target price (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.88.

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.