Captrust Financial Advisors Raises Position in Cloudflare, Inc. (NYSE:NET)

Captrust Financial Advisors boosted its stake in Cloudflare, Inc. (NYSE:NET) by 596.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,827 shares of the company’s stock after buying an additional 34,106 shares during the period. Captrust Financial Advisors’ holdings in Cloudflare were worth $3,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northwest & Ethical Investments L.P. lifted its holdings in Cloudflare by 66.7% in the third quarter. Northwest & Ethical Investments L.P. now owns 2,000 shares of the company’s stock worth $162,000 after buying an additional 800 shares during the period. CreativeOne Wealth LLC increased its stake in shares of Cloudflare by 13.3% during the third quarter. CreativeOne Wealth LLC now owns 6,924 shares of the company’s stock valued at $560,000 after purchasing an additional 811 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Cloudflare during the third quarter valued at approximately $3,209,000. Cynosure Group LLC bought a new position in shares of Cloudflare during the third quarter valued at approximately $271,000. Finally, Townsquare Capital LLC increased its stake in shares of Cloudflare by 3.1% during the third quarter. Townsquare Capital LLC now owns 41,920 shares of the company’s stock valued at $3,391,000 after purchasing an additional 1,267 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,568 shares of company stock valued at $47,573,767 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NET. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $92.00 to $130.00 in a research note on Monday. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Scotiabank raised their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $94.40.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $110.72 on Thursday. The stock has a market cap of $38.00 billion, a P/E ratio of -425.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock’s fifty day moving average is $91.57 and its 200 day moving average is $83.14. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.