Cloudflare, Inc. (NYSE:NET) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC trimmed its position in Cloudflare, Inc. (NYSE:NET) by 7.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,252 shares of the company’s stock after selling 267 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cloudflare were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NET. NBC Securities Inc. bought a new stake in shares of Cloudflare in the 1st quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its stake in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the fourth quarter worth $43,000. Global Financial Private Client LLC lifted its position in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock worth $43,000 after buying an additional 381 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Cloudflare in the 4th quarter worth about $56,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Performance

NYSE:NET opened at $171.69 on Friday. The company has a 50-day moving average of $139.61 and a 200-day moving average of $130.07. The firm has a market cap of $59.51 billion, a price-to-earnings ratio of -780.40 and a beta of 1.84. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $181.81.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Cloudflare’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Capital One Financial upgraded Cloudflare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. Royal Bank of Canada reduced their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, CICC Research upgraded Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price on the stock in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $145.92.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $48,501,613.16. The trade was a 11.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 661,985 shares of company stock worth $93,352,423. Company insiders own 10.89% of the company’s stock.

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.