WIM INVESTMENT MANAGEMENT Ltd Decreases Holdings in Cloudflare, Inc. $NET

WIM INVESTMENT MANAGEMENT Ltd lowered its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 227,749 shares of the company’s stock after selling 9,500 shares during the period. Cloudflare comprises about 12.4% of WIM INVESTMENT MANAGEMENT Ltd’s portfolio, making the stock its 2nd biggest holding. WIM INVESTMENT MANAGEMENT Ltd owned about 0.07% of Cloudflare worth $48,873,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NET. Physician Wealth Advisors Inc. increased its stake in Cloudflare by 693.3% in 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 last quarter. Westside Investment Management Inc. grew its holdings in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare during the second quarter valued at approximately $29,000. ORG Wealth Partners LLC lifted its holdings in Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after acquiring an additional 70 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Cloudflare in the 3rd quarter valued at $31,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 41,557 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the transaction, the chief financial officer owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. This represents a 32.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $172.76, for a total transaction of $4,429,739.16. Following the completion of the sale, the insider owned 34,514 shares in the company, valued at approximately $5,962,638.64. This trade represents a 42.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 506,012 shares of company stock worth $98,211,842. Insiders own 10.89% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $171.92 on Thursday. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. The stock has a market cap of $60.22 billion, a P/E ratio of -592.79 and a beta of 1.97. The business’s 50-day moving average price is $186.72 and its two-hundred day moving average price is $203.34.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The firm had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. New Street Research set a $140.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Scotiabank dropped their target price on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Argus upped their price objective on Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Stifel Nicolaus raised their target price on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.70.

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.