Cloudflare, Inc. $NET Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 7.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 715,058 shares of the company’s stock after selling 58,134 shares during the period. Artisan Partners Limited Partnership’s holdings in Cloudflare were worth $153,444,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NET. Physician Wealth Advisors Inc. raised its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after acquiring an additional 104 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare in the second quarter valued at $29,000. ORG Wealth Partners LLC increased its stake in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Cloudflare during the third quarter worth about $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NET shares. Royal Bank Of Canada upped their price objective on shares of Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Argus upped their price target on shares of Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Barclays increased their price target on shares of Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Piper Sandler boosted their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Finally, Needham & Company LLC cut their target price on Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.70.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $201.23, for a total value of $10,541,232.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle Zatlyn sold 35,080 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 610,780 shares of company stock valued at $115,913,967 in the last three months. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $174.59 on Friday. The company’s fifty day moving average price is $186.33 and its two-hundred day moving average price is $203.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $61.16 billion, a P/E ratio of -602.01 and a beta of 1.97. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00.

Cloudflare (NYSE:NET) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. On average, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.