Creekmur Asset Management LLC Has $3.40 Million Stake in Cloudflare, Inc. $NET

Creekmur Asset Management LLC increased its position in Cloudflare, Inc. (NYSE:NET) by 31.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,829 shares of the company’s stock after purchasing an additional 3,787 shares during the period. Cloudflare makes up 0.6% of Creekmur Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Creekmur Asset Management LLC’s holdings in Cloudflare were worth $3,397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. APG Asset Management N.V. lifted its stake in shares of Cloudflare by 2.9% in the third quarter. APG Asset Management N.V. now owns 173,900 shares of the company’s stock valued at $37,317,000 after buying an additional 4,900 shares in the last quarter. Wealthedge Investment Advisors LLC increased its position in shares of Cloudflare by 1.9% during the third quarter. Wealthedge Investment Advisors LLC now owns 5,910 shares of the company’s stock worth $1,268,000 after acquiring an additional 108 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Cloudflare by 30.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 206,859 shares of the company’s stock worth $44,390,000 after acquiring an additional 48,200 shares during the last quarter. Generali Investments Management Co LLC lifted its position in Cloudflare by 277.8% in the 3rd quarter. Generali Investments Management Co LLC now owns 5,263 shares of the company’s stock valued at $1,129,000 after acquiring an additional 3,870 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in Cloudflare by 1.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 5,775 shares of the company’s stock valued at $1,239,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 41,557 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the sale, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at $15,812,038.08. This trade represents a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $176.19, for a total value of $528,570.00. Following the completion of the sale, the insider owned 101,101 shares in the company, valued at approximately $17,812,985.19. The trade was a 2.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 610,780 shares of company stock worth $115,913,967 over the last 90 days. Corporate insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of a number of recent research reports. Wall Street Zen raised Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada lifted their target price on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, February 13th. Jefferies Financial Group lifted their price objective on shares of Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Wells Fargo & Company increased their target price on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.70.

Cloudflare Trading Down 1.6%

Shares of Cloudflare stock opened at $171.80 on Friday. The firm has a market cap of $60.18 billion, a PE ratio of -592.38 and a beta of 1.97. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. 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 stock has a fifty day moving average price of $185.86 and a 200-day moving average price of $202.95.

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

About Cloudflare

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.