Executive Wealth Management LLC Has $2.73 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Executive Wealth Management LLC reduced its position in Cloudflare, Inc. (NYSE:NET) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,692 shares of the company’s stock after selling 515 shares during the period. Executive Wealth Management LLC’s holdings in Cloudflare were worth $2,725,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. raised its stake in Cloudflare by 1.5% during the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after acquiring an additional 412,864 shares in the last quarter. Capital World Investors grew its holdings in shares of Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Cloudflare by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after buying an additional 19,446 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after acquiring an additional 855,334 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NET shares. Mizuho boosted their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Cantor Fitzgerald increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada upped their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.88.

Insider Activity

In related news, CAO Janel Riley sold 3,495 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the sale, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Janel Riley sold 3,495 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the sale, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock valued at $39,737,342 in the last quarter. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $91.30 on Friday. The stock has a market cap of $31.20 billion, a PE ratio of -314.83 and a beta of 1.10. The stock has a 50-day moving average of $84.77 and a 200-day moving average of $80.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a one year low of $61.34 and a one year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.13 earnings per share 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.