Empowered Funds LLC Has $354,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Empowered Funds LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,378 shares of the company’s stock after acquiring an additional 313 shares during the quarter. Empowered Funds LLC’s holdings in Cloudflare were worth $354,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC increased its stake in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP grew its stake in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare in the 2nd quarter worth approximately $29,000. Versant Capital Management Inc lifted its position in shares of Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Cloudflare in the 3rd quarter valued at $38,000. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 546,194 shares of company stock valued at $46,804,995 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Cloudflare in a report on Friday, August 2nd. Scotiabank boosted their price objective on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Robert W. Baird raised their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Mizuho upped their price target on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.88.

Cloudflare Stock Down 0.5 %

Shares of NET stock opened at $103.74 on Tuesday. The firm’s 50-day moving average is $88.21 and its 200-day moving average is $81.55. The stock has a market cap of $35.60 billion, a price-to-earnings ratio of -405.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

About Cloudflare

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.