Kingswood Wealth Advisors LLC Has $2.30 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Kingswood Wealth Advisors LLC decreased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,729 shares of the company’s stock after selling 3,629 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Cloudflare were worth $2,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Riverview Trust Co acquired a new position in shares of Cloudflare during the first quarter valued at about $27,000. Wealth Management Partners LLC increased its holdings in Cloudflare by 16.3% during the 1st quarter. Wealth Management Partners LLC now owns 3,452 shares of the company’s stock worth $334,000 after purchasing an additional 483 shares in the last quarter. Strategic Planning Group LLC raised its stake in shares of Cloudflare by 13.7% in the first quarter. Strategic Planning Group LLC now owns 30,649 shares of the company’s stock worth $2,968,000 after purchasing an additional 3,691 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Cloudflare in the first quarter valued at approximately $4,956,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Cloudflare during the first quarter valued at approximately $506,000. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 8,030 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $79.89, for a total transaction of $641,516.70. Following the transaction, the director now owns 1,084,364 shares in the company, valued at $86,629,839.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 60,863 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $74.94, for a total value of $4,561,073.22. Following the completion of the sale, the chief operating officer now directly owns 211,394 shares in the company, valued at approximately $15,841,866.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Ledbetter sold 8,030 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $79.89, for a total transaction of $641,516.70. Following the completion of the sale, the director now owns 1,084,364 shares of the company’s stock, valued at approximately $86,629,839.96. The disclosure for this sale can be found here. Insiders have sold a total of 700,796 shares of company stock worth $56,919,603 in the last three months. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. KeyCorp decreased their price target on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 price objective (down previously from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. Bank of America raised their price target on shares of Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and upped their price objective for the company from $76.00 to $82.00 in a research note on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.96.

Cloudflare Price Performance

Shares of NET traded down $1.38 during mid-day trading on Wednesday, reaching $79.28. The stock had a trading volume of 1,973,009 shares, compared to its average volume of 3,755,176. The firm has a market cap of $26.94 billion, a price-to-earnings ratio of -149.58 and a beta of 1.08. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The business has a fifty day moving average of $77.01 and a 200 day moving average of $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 (NYSE:NET) last released its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Equities analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current year.

About Cloudflare

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.