10,956 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Highland Capital Management LLC

Highland Capital Management LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NETGet Rating) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 10,956 shares of the company’s stock, valued at approximately $479,000.

Several other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Cloudflare by 1.2% during the 1st quarter. Signaturefd LLC now owns 10,606 shares of the company’s stock valued at $1,270,000 after buying an additional 125 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of Cloudflare by 109.2% in the 1st quarter. Private Capital Group LLC now owns 251 shares of the company’s stock worth $30,000 after purchasing an additional 131 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Cloudflare by 2.4% in the 4th quarter. Cetera Investment Advisers now owns 6,184 shares of the company’s stock worth $813,000 after purchasing an additional 145 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Cloudflare by 93.8% in the 1st quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock worth $37,000 after purchasing an additional 150 shares during the period. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,284 shares of the company’s stock worth $3,745,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Cloudflare Trading Down 7.6 %

Shares of NYSE:NET opened at $56.92 on Friday. Cloudflare, Inc. has a 12-month low of $38.96 and a 12-month high of $221.64. The business’s fifty day simple moving average is $61.73 and its 200-day simple moving average is $71.53. The company has a market capitalization of $18.57 billion, a PE ratio of -62.55 and a beta of 1.10. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 2.47.

Cloudflare (NYSE:NETGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Cloudflare had a negative net margin of 35.66% and a negative return on equity of 23.62%. The company had revenue of $234.52 million during the quarter, compared to analysts’ expectations of $227.52 million. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Cloudflare from $60.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Moffett Nathanson assumed coverage on Cloudflare in a report on Thursday. They issued a “buy” rating and a $114.00 target price for the company. Piper Sandler lifted their target price on Cloudflare from $57.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Royal Bank of Canada lifted their target price on Cloudflare from $62.00 to $74.00 in a report on Friday, August 5th. Finally, Cantor Fitzgerald assumed coverage on Cloudflare in a research note on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $112.57.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $50.34, for a total transaction of $2,637,010.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $50.34, for a total transaction of $2,637,010.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Paul D. Underwood sold 6,000 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $70.00, for a total value of $420,000.00. Following the transaction, the chief accounting officer now owns 30,030 shares in the company, valued at $2,102,100. The disclosure for this sale can be found here. In the last three months, insiders have sold 320,304 shares of company stock worth $20,817,806. 15.99% of the stock is currently owned by company insiders.

Cloudflare Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NETGet Rating).

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.