Cloudflare, Inc. $NET Shares Sold by Goldstream Capital Management Ltd

Goldstream Capital Management Ltd lowered its stake in shares of Cloudflare, Inc. (NYSE:NET) by 15.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,178 shares of the company’s stock after selling 4,092 shares during the period. Cloudflare makes up approximately 1.1% of Goldstream Capital Management Ltd’s portfolio, making the stock its 12th biggest holding. Goldstream Capital Management Ltd’s holdings in Cloudflare were worth $4,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. grew its stake in shares of Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares during the period. Westside Investment Management Inc. raised its position in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after buying an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare in the second quarter valued at $29,000. ORG Wealth Partners LLC boosted its holdings in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in Cloudflare during the third quarter valued at about $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 0.2%

Shares of NET opened at $212.46 on Friday. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The stock’s 50-day moving average is $185.42 and its two-hundred day moving average is $202.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market cap of $74.42 billion, a PE ratio of -732.59 and a beta of 1.98.

Cloudflare (NYSE:NET) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the subject of several research analyst reports. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. Robert W. Baird set a $260.00 target price on Cloudflare and gave the stock an “outperform” rating in a report on Wednesday, February 11th. BTIG Research increased their target price on shares of Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, January 21st. Finally, DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Insider Buying and Selling

In other news, CAO Janel Riley sold 23,332 shares of Cloudflare stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $190.00, for a total transaction of $4,433,080.00. Following the sale, the chief accounting officer owned 56,791 shares in the company, valued at $10,790,290. This trade represents a 29.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider directly owned 34,514 shares in the company, valued at approximately $6,540,403. The trade was a 42.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 526,210 shares of company stock valued at $97,324,213 over the last three months. Company insiders own 10.89% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.