Cloudflare, Inc. (NYSE:NET) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Cloudflare, Inc. (NYSE:NET) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,268 shares of the company’s stock after purchasing an additional 1,616 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cloudflare were worth $3,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC grew its position in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after buying an additional 58 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock valued at $447,000 after buying an additional 98 shares during the last quarter. Baxter Bros Inc. grew its position in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after buying an additional 100 shares during the last quarter. Ellevest Inc. grew its position in shares of Cloudflare by 2.3% in the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after buying an additional 102 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Cloudflare by 19.3% in the 1st quarter. Versant Capital Management Inc now owns 655 shares of the company’s stock valued at $74,000 after buying an additional 106 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $180.76, for a total transaction of $1,807,600.00. Following the completion of the sale, the chief financial officer now directly owns 241,550 shares of the company’s stock, valued at approximately $43,662,578. This represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Ledbetter sold 749 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $181.46, for a total value of $135,913.54. Following the sale, the director now directly owns 1,083,615 shares of the company’s stock, valued at approximately $196,632,777.90. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 515,987 shares of company stock valued at $77,174,354 in the last ninety days. 10.89% of the stock is owned by insiders.

Cloudflare Stock Up 0.4%

Shares of NYSE NET opened at $190.91 on Friday. The firm’s 50-day simple moving average is $153.32 and its 200 day simple moving average is $134.66. The company has a market cap of $66.17 billion, a price-to-earnings ratio of -830.06 and a beta of 1.84. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $192.46.

Cloudflare (NYSE:NET) last issued 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). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. On average, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NET shares. Royal Bank Of Canada lowered their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. KeyCorp started coverage on shares of Cloudflare in a research report on Friday, June 6th. They set an “overweight” rating and a $210.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, Susquehanna lowered their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $145.92.

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.