Cloudflare, Inc. (NYSE:NET) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,799 shares of the company’s stock after purchasing an additional 303 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cloudflare were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NET. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cloudflare by 5.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,126 shares of the company’s stock worth $2,046,000 after buying an additional 1,163 shares during the last quarter. Diversified Trust Co lifted its position in Cloudflare by 52.8% during the 1st quarter. Diversified Trust Co now owns 5,337 shares of the company’s stock worth $517,000 after acquiring an additional 1,845 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of Cloudflare by 6.9% in the first quarter. Kovack Advisors Inc. now owns 3,240 shares of the company’s stock valued at $314,000 after purchasing an additional 210 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Cloudflare in the first quarter worth about $295,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on NET. Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Finally, Cantor Fitzgerald lifted their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Stock Performance

NYSE NET opened at $89.57 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The stock’s 50 day simple moving average is $83.28 and its 200-day simple moving average is $80.54. The company has a market cap of $30.61 billion, a PE ratio of -168.00 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.54% and a negative net margin of 6.90%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total value of $231,510.00. Following the transaction, the insider now directly 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 document filed with the SEC, which is available through this hyperlink. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.71, for a total transaction of $1,180,650.00. Following the completion of the sale, the chief financial officer now directly owns 309,937 shares in the company, valued at approximately $24,395,141.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated 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 owns 195,303 shares in the company, valued at $15,071,532.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,552 shares of company stock valued at $42,994,705. Corporate insiders own 12.83% of the company’s stock.

About Cloudflare

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.