Amitell Capital Pte Ltd Makes New $2.55 Million Investment in Cloudflare, Inc. $NET

Amitell Capital Pte Ltd acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,894 shares of the company’s stock, valued at approximately $2,552,000. Cloudflare makes up 1.6% of Amitell Capital Pte Ltd’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in NET. Physician Wealth Advisors Inc. lifted its holdings in Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Westside Investment Management Inc. lifted 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 buying an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Cloudflare in the 2nd quarter worth approximately $29,000. ORG Wealth Partners LLC boosted its stake in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Cloudflare during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

NET stock opened at $171.92 on Thursday. The company has a 50 day moving average price of $186.72 and a 200 day moving average price of $203.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $60.22 billion, a PE ratio of -592.79 and a beta of 1.97. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping 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 firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the previous year, the business posted $0.19 EPS. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on NET shares. TD Cowen reaffirmed a “buy” rating on shares of Cloudflare in a research note on Tuesday, January 27th. Barclays increased their price target on shares of Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, January 21st. Oppenheimer assumed coverage on Cloudflare in a report on Monday, November 10th. They issued an “outperform” rating and a $260.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.70.

Insider Buying and Selling

In other Cloudflare news, insider Michelle Zatlyn sold 35,080 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20. Following the completion of the sale, the insider owned 34,514 shares of the company’s stock, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $201.23, for a total value of $10,541,232.32. The disclosure for this sale is available in the SEC filing. Insiders have sold 506,012 shares of company stock valued at $98,211,842 in the last 90 days. 10.89% of the stock is owned by insiders.

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.