CreativeOne Wealth LLC Grows Stock Holdings in Cloudflare, Inc. (NYSE:NET)

CreativeOne Wealth LLC lifted its stake in Cloudflare, Inc. (NYSE:NET) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,924 shares of the company’s stock after purchasing an additional 811 shares during the quarter. CreativeOne Wealth LLC’s holdings in Cloudflare were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NET. CVA Family Office LLC increased its stake in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP increased its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Cloudflare during the second quarter worth about $29,000. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 421 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank lifted 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. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target on the stock. Susquehanna boosted their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Piper Sandler increased their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted 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 research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.88.

Cloudflare Stock Performance

Shares of NET stock opened at $99.83 on Monday. The company has a market cap of $34.26 billion, a P/E ratio of -383.96 and a beta of 1.10. The firm has a fifty day moving average price of $90.25 and a 200 day moving average price of $82.52. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00.

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

Insiders Place Their Bets

In related news, COO Michelle Zatlyn sold 64,100 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $15,681,643.20. This trade represents a 25.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 606,952 shares of company stock valued at $53,078,202. 12.83% of the stock is owned by corporate insiders.

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.