Hennion & Walsh Asset Management Inc. Has $398,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Hennion & Walsh Asset Management Inc. grew its holdings in Cloudflare, Inc. (NYSE:NET) by 27.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,918 shares of the company’s stock after buying an additional 1,057 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cloudflare were worth $398,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in shares of Cloudflare in the 3rd quarter valued at $147,160,000. Signaturefd LLC raised its stake in shares of Cloudflare by 2.8% in the 3rd quarter. Signaturefd LLC now owns 10,087 shares of the company’s stock valued at $816,000 after buying an additional 274 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Cloudflare by 12.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company’s stock valued at $226,000 after buying an additional 303 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Cloudflare by 8.2% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,324 shares of the company’s stock valued at $188,000 after buying an additional 176 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Up 1.9 %

Shares of NYSE NET opened at $89.57 on Wednesday. The firm has a market capitalization of $30.61 billion, a PE ratio of -169.00 and a beta of 1.10. 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, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The firm’s 50-day moving average is $83.28 and its 200-day moving average is $80.54.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. Equities analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current year.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total transaction of $231,510.00. Following the transaction, the insider now owns 195,303 shares of the company’s stock, valued at $15,071,532.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at $6,546,941.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total transaction of $231,510.00. Following the completion of the transaction, the insider now directly owns 195,303 shares in the company, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 522,552 shares of company stock valued at $42,994,705 in the last 90 days. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NET shares. Susquehanna increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Robert W. Baird increased their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BNP Paribas started coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Royal Bank of Canada increased 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, 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 target price for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $91.72.

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.