Thrivent Financial for Lutherans acquired a new position in shares of Cloudflare, Inc. (NYSE:NET – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,030 shares of the company’s stock, valued at approximately $725,000.
Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Cloudflare by 1,036.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 557 shares of the company’s stock valued at $31,000 after acquiring an additional 508 shares in the last quarter. Exos TFP Holdings LLC acquired a new position in Cloudflare in the 3rd quarter valued at approximately $44,000. U.S. Capital Wealth Advisors LLC acquired a new position in Cloudflare in the 4th quarter valued at approximately $45,000. TCI Wealth Advisors Inc. acquired a new position in Cloudflare in the 3rd quarter valued at approximately $46,000. Finally, Allworth Financial LP raised its holdings in Cloudflare by 56.5% in the 4th quarter. Allworth Financial LP now owns 1,363 shares of the company’s stock valued at $62,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on NET shares. William Blair reissued an “outperform” rating on shares of Cloudflare in a report on Wednesday, April 19th. Cantor Fitzgerald dropped their target price on Cloudflare from $65.00 to $50.00 in a report on Friday, April 28th. Royal Bank of Canada dropped their target price on Cloudflare from $70.00 to $54.00 in a report on Friday, April 28th. Credit Suisse Group dropped their target price on Cloudflare from $95.00 to $75.00 in a report on Monday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $77.00 target price on shares of Cloudflare in a report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.04.
Cloudflare Stock Up 0.6 %
Cloudflare (NYSE:NET – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $290.18 million for the quarter, compared to analyst estimates of $290.96 million. Cloudflare had a negative return on equity of 25.10% and a negative net margin of 18.05%. Equities research analysts expect that Cloudflare, Inc. will post -0.32 earnings per share for the current year.
Insider Buying and Selling
In related news, General Counsel Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $60.61, for a total transaction of $181,830.00. Following the sale, the general counsel now owns 54,960 shares of the company’s stock, valued at approximately $3,331,125.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $42.33, for a total value of $634,950.00. Following the sale, the chief financial officer now owns 266,343 shares of the company’s stock, valued at approximately $11,274,299.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $60.61, for a total value of $181,830.00. Following the completion of the sale, the general counsel now directly owns 54,960 shares in the company, valued at approximately $3,331,125.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 421,338 shares of company stock valued at $24,385,996. 15.99% of the stock is owned by company insiders.
Cloudflare Company Profile
CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.
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