Cloudflare, Inc. (NYSE:NET) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP lessened its stake in Cloudflare, Inc. (NYSE:NET) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,267 shares of the company’s stock after selling 1,053 shares during the quarter. Lyell Wealth Management LP’s holdings in Cloudflare were worth $3,257,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare during the 2nd quarter valued at $29,000. Quarry LP raised its position in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the completion of the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at approximately $15,071,532.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total value of $231,510.00. Following the completion of the transaction, the insider now owns 195,303 shares in the company, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 522,552 shares of company stock valued at $42,994,705 in the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 0.9 %

Shares of NET stock opened at $88.74 on Friday. The stock has a market cap of $30.15 billion, a P/E ratio of -167.43 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The stock has a fifty day moving average price of $83.20 and a 200 day moving average price of $80.81. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. Analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on NET. BNP Paribas assumed coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price for the company. Piper Sandler lifted their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Mizuho increased their target price on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Scotiabank initiated coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target on the stock. Finally, Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.72.

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.