Motley Fool Asset Management LLC Has $366,000 Position in Cloudflare, Inc. (NYSE:NET)

Motley Fool Asset Management LLC lowered its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 7.7% during the third quarter, HoldingsChannel reports. The firm owned 4,686 shares of the company’s stock after selling 391 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Cloudflare were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NET. Comerica Bank raised its position in shares of Cloudflare by 19.9% during the first quarter. Comerica Bank now owns 28,556 shares of the company’s stock worth $2,765,000 after purchasing an additional 4,733 shares during the period. Wealth Management Partners LLC raised its position in Cloudflare by 5.4% in the 2nd quarter. Wealth Management Partners LLC now owns 3,637 shares of the company’s stock valued at $301,000 after buying an additional 185 shares during the last quarter. RFG Advisory LLC raised its position in Cloudflare by 18.7% in the 2nd quarter. RFG Advisory LLC now owns 8,672 shares of the company’s stock valued at $718,000 after buying an additional 1,366 shares during the last quarter. ORG Partners LLC raised its position in Cloudflare by 7,510.0% in the 2nd quarter. ORG Partners LLC now owns 761 shares of the company’s stock valued at $64,000 after buying an additional 751 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in Cloudflare by 2.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 24,567 shares of the company’s stock valued at $2,035,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock opened at $110.72 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00. The stock has a market capitalization of $38.00 billion, a P/E ratio of -425.85 and a beta of 1.10. The stock has a fifty day moving average of $91.57 and a 200-day moving average of $83.14.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting 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 analyst estimates of $423.65 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Scotiabank lifted their target price on 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 assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Mizuho lifted their target price on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.40.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. This trade represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $22,050,739.08. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 536,568 shares of company stock worth $47,573,767. Insiders own 12.83% of the company’s stock.

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.