Cloudflare, Inc. (NYSE:NET) Shares Acquired by Lyell Wealth Management LP

Lyell Wealth Management LP lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,320 shares of the company’s stock after acquiring an additional 6,149 shares during the quarter. Lyell Wealth Management LP’s holdings in Cloudflare were worth $3,423,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NET. Riverview Trust Co purchased a new position in Cloudflare during the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare during the 2nd quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after acquiring an additional 421 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in Cloudflare in the 4th quarter worth $38,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NET shares. Robert W. Baird lifted their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Mizuho lifted their price objective on Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Guggenheim lifted their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Wolfe Research began coverage on Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.29.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 8,030 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $79.89, for a total value of $641,516.70. Following the transaction, the director now directly owns 1,084,364 shares in the company, valued at approximately $86,629,839.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cloudflare news, Director Carl Ledbetter sold 8,030 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $79.89, for a total value of $641,516.70. Following the sale, the director now owns 1,084,364 shares of the company’s stock, valued at $86,629,839.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 102,580 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60. Following the transaction, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $17,444,232.88. The disclosure for this sale can be found here. Insiders sold a total of 597,702 shares of company stock worth $48,088,422 over the last three months. Insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 0.3 %

Shares of Cloudflare stock opened at $78.59 on Friday. The stock has a 50 day moving average of $79.69 and a 200 day moving average of $83.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a market capitalization of $26.70 billion, a price-to-earnings ratio of -148.28 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) EPS. As a group, research analysts predict that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Cloudflare Company 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.