Cloudflare, Inc. $NET is AMJ Financial Wealth Management’s 10th Largest Position

AMJ Financial Wealth Management lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,669 shares of the company’s stock after buying an additional 2,883 shares during the quarter. Cloudflare makes up about 2.8% of AMJ Financial Wealth Management’s portfolio, making the stock its 10th biggest position. AMJ Financial Wealth Management’s holdings in Cloudflare were worth $11,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Physician Wealth Advisors Inc. increased its stake 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 purchasing an additional 104 shares during the period. Westside Investment Management Inc. grew 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 worth $28,000 after purchasing an additional 65 shares during the last quarter. ORG Wealth Partners LLC grew its holdings in shares of Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Cloudflare in the 2nd quarter worth about $29,000. Finally, Harbor Investment Advisory LLC bought a new stake in Cloudflare during the 3rd quarter valued at about $32,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Trading Down 8.1%

NET opened at $176.99 on Friday. The firm has a market cap of $62.00 billion, a price-to-earnings ratio of -610.29 and a beta of 1.97. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The stock has a fifty day moving average price of $188.52 and a 200-day moving average price of $204.28.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research analyst reports. Morgan Stanley set a $245.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Jefferies Financial Group increased their price objective on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Zacks Research cut Cloudflare from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Finally, DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, February 13th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Insider Buying and Selling

In other news, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $211.16, for a total transaction of $3,167,400.00. Following the transaction, the director directly owned 953,073 shares of the company’s stock, valued at approximately $201,250,894.68. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $208.61, for a total value of $5,348,969.01. Following the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $5,122,418.55. This represents a 51.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 403,734 shares of company stock worth $79,426,703 in the last 90 days. 10.89% of the stock is owned by corporate 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.