Lyell Wealth Management LP Grows Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Lyell Wealth Management LP grew its holdings in Cloudflare, Inc. (NYSE:NET) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,558 shares of the company’s stock after purchasing an additional 7,291 shares during the quarter. Lyell Wealth Management LP’s holdings in Cloudflare were worth $5,121,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Cloudflare in the 3rd quarter worth approximately $38,000. Quarry LP lifted its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC purchased a new position in Cloudflare in the 3rd quarter worth approximately $54,000. Versant Capital Management Inc lifted its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Down 1.6 %

Shares of NET stock opened at $168.45 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average price of $126.45 and a 200 day moving average price of $101.15. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at $17,372,001.96. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 500,335 shares of company stock worth $57,238,617. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. The Goldman Sachs Group lifted their price target on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley lifted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.28.

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.