Cravens & Co Advisors LLC Has $388,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Cravens & Co Advisors LLC trimmed its holdings in Cloudflare, Inc. (NYSE:NET) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,794 shares of the company’s stock after selling 446 shares during the period. Cravens & Co Advisors LLC’s holdings in Cloudflare were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. CVA Family Office LLC raised its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare in the second quarter valued at $29,000. Quarry LP raised its holdings in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Versant Capital Management Inc increased its holdings in shares of Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter valued at about $38,000. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NET. Mizuho boosted their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Susquehanna raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Cantor Fitzgerald boosted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $92.88.

Cloudflare Trading Down 1.4 %

Shares of NYSE:NET opened at $102.24 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $35.09 billion, a PE ratio of -393.23 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The business’s fifty day simple moving average is $89.15 and its 200-day simple moving average is $81.98.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $15,681,643.20. This represents a 25.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04. Following the sale, the chief executive officer now directly owns 10,761 shares of the company’s stock, valued at approximately $840,003.66. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 546,194 shares of company stock valued at $46,804,995 in the last quarter. 12.83% of the stock is currently owned by corporate insiders.

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.