Cloudflare, Inc. (NYSE:NET) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its position in Cloudflare, Inc. (NYSE:NET) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,658 shares of the company’s stock after selling 134 shares during the period. Mission Wealth Management LP’s holdings in Cloudflare were worth $502,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hartline Investment Corp grew its holdings in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare in the 3rd quarter worth $25,588,000. Charles Schwab Investment Management Inc. raised its position in shares of Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the period. National Pension Service raised its position in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, Birchcreek Wealth Management LLC purchased a new position in Cloudflare in the fourth quarter valued at about $215,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $59,961,421.52. The trade was a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 623,046 shares of company stock worth $79,594,844 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 1.9 %

Shares of NYSE:NET opened at $143.67 on Thursday. The stock has a market capitalization of $49.58 billion, a PE ratio of -653.05 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm has a fifty day moving average price of $134.50 and a 200 day moving average price of $106.61. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho raised their target price on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Cantor Fitzgerald boosted their price objective on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Finally, Guggenheim upped their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus target price of $136.28.

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.