CFM Wealth Partners LLC Buys New Holdings in Cloudflare, Inc. (NYSE:NET)

CFM Wealth Partners LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,211 shares of the company’s stock, valued at approximately $2,767,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Cloudflare during the second quarter worth approximately $7,319,000. Los Angeles Capital Management LLC lifted its position in Cloudflare by 140.8% during the first quarter. Los Angeles Capital Management LLC now owns 453,651 shares of the company’s stock worth $43,927,000 after acquiring an additional 265,281 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after acquiring an additional 149,866 shares during the last quarter. Finally, Swiss National Bank lifted its position in Cloudflare by 2.0% during the first quarter. Swiss National Bank now owns 886,900 shares of the company’s stock worth $85,879,000 after acquiring an additional 17,700 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Scotiabank assumed coverage on shares of Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.20.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $93.80 on Wednesday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a market capitalization of $31.87 billion, a P/E ratio of -176.98 and a beta of 1.10. The company’s 50 day moving average price is $81.56 and its two-hundred day moving average price is $80.91.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share. On average, equities analysts forecast that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the transaction, the chief financial officer now owns 309,937 shares in the company, valued at approximately $24,450,929.93. The trade was a 0.00 % 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. In other news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00. Following the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $15,873,820.20. The trade was a 0.00 % 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, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the transaction, the chief financial officer now owns 309,937 shares in the company, valued at approximately $24,450,929.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,784 shares of company stock worth $33,130,625. Company insiders own 12.83% of the company’s stock.

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.