SG Americas Securities LLC Boosts Stock Holdings in Cloudflare, Inc. (NYSE:NET)

SG Americas Securities LLC raised its holdings in Cloudflare, Inc. (NYSE:NETGet Rating) by 31.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,614 shares of the company’s stock after purchasing an additional 3,282 shares during the period. SG Americas Securities LLC’s holdings in Cloudflare were worth $753,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Cloudflare by 92.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,456 shares of the company’s stock worth $81,000 after purchasing an additional 700 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in shares of Cloudflare in the third quarter worth about $365,000. Comerica Bank increased its stake in shares of Cloudflare by 7.9% in the third quarter. Comerica Bank now owns 15,577 shares of the company’s stock worth $840,000 after purchasing an additional 1,135 shares in the last quarter. US Bancorp DE grew its stake in Cloudflare by 5.0% during the third quarter. US Bancorp DE now owns 46,919 shares of the company’s stock valued at $2,593,000 after acquiring an additional 2,227 shares in the last quarter. Finally, Avitas Wealth Management LLC grew its stake in Cloudflare by 38.1% during the third quarter. Avitas Wealth Management LLC now owns 14,647 shares of the company’s stock valued at $810,000 after acquiring an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $45.84, for a total transaction of $2,401,282.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $45.84, for a total value of $2,401,282.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $45.07, for a total transaction of $901,400.00. Following the completion of the sale, the chief financial officer now directly owns 86,433 shares in the company, valued at $3,895,535.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 495,785 shares of company stock valued at $22,885,776. 15.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NET. Macquarie began coverage on shares of Cloudflare in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $60.00 price objective for the company. Robert W. Baird reduced their price objective on shares of Cloudflare from $80.00 to $67.00 in a research note on Friday, November 4th. KeyCorp reduced their price objective on shares of Cloudflare from $98.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Piper Sandler reduced their price objective on shares of Cloudflare from $58.00 to $46.00 in a research note on Tuesday. Finally, Credit Suisse Group dropped their target price on shares of Cloudflare from $125.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.33.

Cloudflare Trading Up 6.8 %

NYSE:NET opened at $45.60 on Friday. The company has a fifty day moving average of $45.94 and a 200 day moving average of $53.24. Cloudflare, Inc. has a 52 week low of $37.37 and a 52 week high of $132.45. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $14.99 billion, a P/E ratio of -65.14 and a beta of 1.03.

Cloudflare (NYSE:NETGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $253.86 million during the quarter, compared to analyst estimates of $250.20 million. Cloudflare had a negative net margin of 25.16% and a negative return on equity of 27.82%. On average, research analysts predict that Cloudflare, Inc. will post -0.4 earnings per share for the current year.

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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