Kestra Advisory Services LLC Buys 1,133 Shares of Cloudflare, Inc. (NYSE:NET)

Kestra Advisory Services LLC lifted its stake in Cloudflare, Inc. (NYSE:NETGet Rating) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,661 shares of the company’s stock after buying an additional 1,133 shares during the period. Kestra Advisory Services LLC’s holdings in Cloudflare were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Antonetti Capital Management LLC bought a new stake in shares of Cloudflare in the second quarter valued at approximately $35,000. Patriot Financial Group Insurance Agency LLC boosted 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 valued at $51,000 after buying an additional 532 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Cloudflare during the second quarter worth $52,000. Benjamin F. Edwards & Company Inc. lifted its stake in Cloudflare by 92.6% during 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 during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Cloudflare during the second quarter worth $116,000. 69.97% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $47.62 on Tuesday. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 2.42. The business has a 50-day moving average price of $45.85 and a two-hundred day moving average price of $53.25. Cloudflare, Inc. has a 1-year low of $37.37 and a 1-year high of $132.45. The company has a market cap of $15.65 billion, a P/E ratio of -68.03 and a beta of 1.03.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on NET shares. Piper Sandler cut their target price on Cloudflare from $58.00 to $46.00 in a research note on Tuesday, January 17th. JMP Securities cut their target price on Cloudflare from $150.00 to $90.00 and set a “market outperform” rating for the company in a research note on Friday, November 4th. Mizuho cut their target price on Cloudflare from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank of Canada cut their target price on Cloudflare from $74.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, November 4th. Finally, Truist Financial cut their target price on Cloudflare from $80.00 to $57.00 in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.33.

Insider Transactions at Cloudflare

In other news, General Counsel Douglas James Kramer sold 4,500 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the transaction, the general counsel now owns 55,644 shares of the company’s stock, valued at approximately $2,782,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.15, for a total value of $2,507,500.00. Following the transaction, the chief financial officer now owns 88,415 shares of the company’s stock, valued at approximately $4,434,012.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Douglas James Kramer sold 4,500 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 55,644 shares in the company, valued at approximately $2,782,200. The disclosure for this sale can be found here. Insiders have sold 495,785 shares of company stock valued at $22,885,776 in the last 90 days. 15.99% of the stock is currently owned by corporate insiders.

Cloudflare Company 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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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