Cloudflare, Inc. (NYSE:NET) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lowered its stake in shares of Cloudflare, Inc. (NYSE:NET) by 23.0% in the third quarter, HoldingsChannel reports. The firm owned 28,162 shares of the company’s stock after selling 8,430 shares during the quarter. Independent Advisor Alliance’s holdings in Cloudflare were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NET. Advisors Asset Management Inc. boosted its position in Cloudflare by 15.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock valued at $171,000 after purchasing an additional 237 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Cloudflare by 20.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after purchasing an additional 149,866 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Cloudflare by 26.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,936 shares of the company’s stock valued at $381,000 after purchasing an additional 828 shares during the period. California State Teachers Retirement System raised its stake in Cloudflare by 4.8% during the 1st quarter. California State Teachers Retirement System now owns 447,813 shares of the company’s stock valued at $43,362,000 after acquiring an additional 20,533 shares in the last quarter. Finally, Comerica Bank raised its stake in Cloudflare by 19.9% during the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after acquiring an additional 4,733 shares in the last quarter. 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 Cloudflare stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 546,194 shares of company stock valued at $46,804,995 in the last 90 days. 12.83% of the stock is currently owned by company insiders.

Cloudflare Trading Down 0.5 %

NET stock opened at $103.74 on Tuesday. The firm has a market cap of $35.60 billion, a P/E ratio of -399.00 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. The business’s 50 day moving average is $88.21 and its 200-day moving average is $81.55. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on NET. Robert W. Baird lifted their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada boosted their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four investment 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 presently has a consensus rating of “Hold” and a consensus price target of $92.88.

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.