Mission Wealth Management LP Sells 137 Shares of Cloudflare, Inc. (NYSE:NET)

Mission Wealth Management LP lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,049 shares of the company’s stock after selling 137 shares during the period. Mission Wealth Management LP’s holdings in Cloudflare were worth $392,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NET. O Shaughnessy Asset Management LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at about $325,000. Gotham Asset Management LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at about $580,000. Royal London Asset Management Ltd. raised its position in Cloudflare by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 107,194 shares of the company’s stock valued at $6,759,000 after buying an additional 2,374 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Cloudflare by 52.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 80,906 shares of the company’s stock valued at $5,100,000 after buying an additional 27,677 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Cloudflare from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, May 31st. KeyCorp lowered their price target on Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Royal Bank of Canada lowered their price target on Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, The Goldman Sachs Group lowered their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.96.

Cloudflare Stock Performance

NET traded up $2.43 during trading on Friday, hitting $86.96. The stock had a trading volume of 2,077,069 shares, compared to its average volume of 2,892,556. The company has a 50 day moving average price of $76.69 and a 200-day moving average price of $85.44. The firm has a market cap of $29.55 billion, a price-to-earnings ratio of -164.04 and a beta of 1.10. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. As a group, research analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at approximately $29,453,572.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at approximately $29,453,572.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total value of $5,030,959.36. Following the sale, the chief executive officer now owns 230,612 shares of the company’s stock, valued at $22,147,976.48. The disclosure for this sale can be found here. Insiders sold 821,025 shares of company stock worth $66,626,900 in the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare 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.