Cloudflare, Inc. (NYSE:NET) Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC decreased its holdings in Cloudflare, Inc. (NYSE:NET) by 3.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 34,211 shares of the company’s stock after selling 1,089 shares during the quarter. CFM Wealth Partners LLC’s holdings in Cloudflare were worth $3,313,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Cloudflare by 6.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock worth $5,808,000 after purchasing an additional 4,300 shares during the period. Truist Financial Corp lifted its stake in Cloudflare by 1.2% during the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock valued at $2,364,000 after buying an additional 331 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Cloudflare by 5.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock worth $5,478,000 after buying an additional 3,164 shares during the period. Deutsche Bank AG increased its position in shares of Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after acquiring an additional 65,596 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Cloudflare during the fourth quarter valued at approximately $11,639,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 1.7 %

Shares of NYSE NET traded down $1.38 during mid-day trading on Wednesday, reaching $79.28. 1,973,009 shares of the company traded hands, compared to its average volume of 3,755,176. The company’s fifty day moving average is $77.01 and its two-hundred day moving average is $85.35. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The stock has a market cap of $26.94 billion, a PE ratio of -149.58 and a beta of 1.08.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. On average, analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NET shares. KeyCorp decreased their price objective on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group lowered their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. TD Cowen reduced their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Bank of America lifted their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Finally, Susquehanna reduced their price target on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.96.

Insider Buying and Selling

In related news, Director Katrin Suder sold 574 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total transaction of $38,521.14. Following the completion of the transaction, the director now owns 51,162 shares of the company’s stock, valued at approximately $3,433,481.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Katrin Suder sold 574 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $67.11, for a total value of $38,521.14. Following the sale, the director now owns 51,162 shares in the company, valued at $3,433,481.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $69.12, for a total transaction of $1,036,800.00. Following the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $21,422,845.44. The disclosure for this sale can be found here. Insiders have sold 700,796 shares of company stock worth $56,919,603 in the last quarter. 12.83% of the stock is currently owned by company insiders.

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.