Stifel Financial Corp Decreases Position in Cloudflare, Inc. (NYSE:NET)

Stifel Financial Corp lowered its position in Cloudflare, Inc. (NYSE:NET) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,039 shares of the company’s stock after selling 11,274 shares during the quarter. Stifel Financial Corp’s holdings in Cloudflare were worth $2,915,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NET. Hartline Investment Corp lifted its holdings in shares of Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare in the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service increased its position in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Cloudflare in the second quarter worth $7,319,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $22,284,303.57. This trade represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 509,824 shares of company stock valued at $47,862,488. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $117.56 on Wednesday. The firm has a fifty day moving average of $96.78 and a two-hundred day moving average of $85.43. The firm has a market cap of $40.35 billion, a P/E ratio of -454.00 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.77.

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.