Cloudflare, Inc. $NET Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 63.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,897 shares of the company’s stock after selling 3,306 shares during the period. Axxcess Wealth Management LLC’s holdings in Cloudflare were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. grew its position in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. ORG Wealth Partners LLC increased its stake in shares of Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in Cloudflare during the second quarter worth approximately $29,000. Finally, Harbor Investment Advisory LLC bought a new stake in Cloudflare during the third quarter worth approximately $32,000. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $201.69, for a total transaction of $2,016,900.00. Following the transaction, the chief financial officer directly owned 137,486 shares of the company’s stock, valued at $27,729,551.34. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $211.16, for a total value of $3,167,400.00. Following the transaction, the director owned 953,073 shares in the company, valued at approximately $201,250,894.68. This trade represents a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 378,093 shares of company stock worth $74,578,759. Company insiders own 10.89% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE NET opened at $176.99 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The business’s 50-day moving average price is $188.52 and its two-hundred day moving average price is $204.21. The company has a market capitalization of $62.00 billion, a P/E ratio of -610.29 and a beta of 1.97.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The business had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. During the same period in the previous year, the company earned $0.19 EPS. The firm’s revenue was up 33.6% on a year-over-year basis. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC lowered their price target on Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Jefferies Financial Group lifted their target price on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. BTIG Research upped their price target on shares of Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Piper Sandler lifted their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Finally, Argus increased their target price on shares of Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Moderate Buy” and an average target price of $230.70.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.