Raymond James Financial Services Advisors Inc. Grows Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Raymond James Financial Services Advisors Inc. raised its position in shares of Cloudflare, Inc. (NYSE:NETGet Rating) by 16.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,760 shares of the company’s stock after purchasing an additional 2,446 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cloudflare were worth $982,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Antonetti Capital Management LLC bought a new position in shares of Cloudflare during the second quarter valued at about $35,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Cloudflare by 82.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,176 shares of the company’s stock worth $51,000 after purchasing an additional 532 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Cloudflare in the second quarter worth about $52,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Cloudflare in the second quarter worth about $116,000. Finally, Column Capital Advisors LLC grew its stake in shares of Cloudflare by 15.0% in the second quarter. Column Capital Advisors LLC now owns 3,156 shares of the company’s stock worth $138,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.

Cloudflare Trading Up 6.8 %

Shares of NET stock opened at $45.60 on Friday. Cloudflare, Inc. has a 1 year low of $37.37 and a 1 year high of $132.45. The firm has a fifty day moving average price of $45.94 and a 200-day moving average price of $53.26. The company has a debt-to-equity ratio of 2.42, a current ratio of 5.35 and a quick ratio of 5.35. The company has a market cap of $14.99 billion, a price-to-earnings ratio of -65.14 and a beta of 1.03.

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

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 74,710 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $39.90, for a total value of $2,980,929.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the sale, the chief financial officer now directly owns 86,433 shares in the company, valued at approximately $3,524,737.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 74,710 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $39.90, for a total transaction of $2,980,929.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 495,785 shares of company stock valued at $22,885,776. Company insiders own 15.99% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Cloudflare from an “underweight” rating to a “neutral” rating and set a $42.00 target price on the stock in a research note on Monday, November 28th. Credit Suisse Group cut their target price on Cloudflare from $125.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Truist Financial cut their target price on Cloudflare from $80.00 to $57.00 in a research note on Monday, January 9th. Macquarie initiated coverage on Cloudflare in a research report on Wednesday, November 2nd. They set a “neutral” rating and a $60.00 price objective on the stock. Finally, KeyCorp cut their price objective on Cloudflare from $98.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $75.33.

About Cloudflare

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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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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