Cloudflare, Inc. (NYSE:NET) Shares Purchased by Executive Wealth Management LLC

Executive Wealth Management LLC lifted its stake in Cloudflare, Inc. (NYSE:NET) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,207 shares of the company’s stock after acquiring an additional 3,261 shares during the period. Executive Wealth Management LLC’s holdings in Cloudflare were worth $2,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NET. Meeder Advisory Services Inc. raised its holdings in Cloudflare by 43.8% during the second quarter. Meeder Advisory Services Inc. now owns 3,147 shares of the company’s stock worth $261,000 after purchasing an additional 958 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Cloudflare by 6.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 58,330 shares of the company’s stock valued at $4,791,000 after purchasing an additional 3,754 shares during the period. Main Street Financial Solutions LLC acquired a new stake in shares of Cloudflare in the second quarter valued at $213,000. Y.D. More Investments Ltd boosted its stake in Cloudflare by 6.2% during the second quarter. Y.D. More Investments Ltd now owns 35,227 shares of the company’s stock valued at $2,918,000 after buying an additional 2,053 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after acquiring an additional 277,228 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Up 0.4 %

NET stock opened at $78.86 on Friday. The company has a 50 day moving average of $79.97 and a two-hundred day moving average of $83.33. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

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

Insider Activity at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the completion of the sale, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cloudflare news, CAO Janel Riley sold 3,495 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the transaction, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $82.96, for a total value of $4,345,776.64. Following the sale, the chief executive officer now owns 8,742 shares of the company’s stock, valued at approximately $725,236.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 597,702 shares of company stock valued at $48,088,422. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Scotiabank started coverage on shares of Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on shares of Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Wolfe Research started coverage on Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Guggenheim lifted their target price on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.29.

Cloudflare Company 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.