Cloudflare, Inc. (NYSE:NET) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its holdings in Cloudflare, Inc. (NYSE:NET) by 48.4% during the third quarter, Holdings Channel.com reports. The fund owned 2,507 shares of the company’s stock after selling 2,348 shares during the period. UMB Bank n.a.’s holdings in Cloudflare were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NET. Riverview Trust Co purchased a new stake in shares of Cloudflare in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its stake in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare during the 2nd quarter valued at $29,000. Quarry LP increased its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NET has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price objective on shares of Cloudflare in a research note on Monday, June 17th. Susquehanna raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Wolfe Research initiated coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They issued a “peer perform” rating 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 research report on Friday, August 2nd. Finally, Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four equities research 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’s stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $91.20.

Cloudflare Price Performance

NET opened at $93.47 on Friday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve 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. The firm has a market cap of $31.94 billion, a price-to-earnings ratio of -322.31 and a beta of 1.10. The company has a fifty day simple moving average of $80.88 and a 200 day simple moving average of $81.06.

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

Insider Buying and Selling at Cloudflare

In other news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $24,450,929.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,784 shares of company stock valued at $33,130,625 in the last three months. Corporate insiders own 12.83% of the company’s stock.

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.