Faithward Advisors LLC Has $8.56 Million Stock Position in Cloudflare, Inc. $NET

Faithward Advisors LLC reduced its holdings in Cloudflare, Inc. (NYSE:NET) by 6.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,908 shares of the company’s stock after selling 2,633 shares during the period. Cloudflare comprises about 1.3% of Faithward Advisors LLC’s holdings, making the stock its 16th largest holding. Faithward Advisors LLC’s holdings in Cloudflare were worth $8,564,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its holdings in shares of 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 purchasing an additional 104 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Cloudflare in the third quarter worth approximately $26,000. Westside Investment Management Inc. boosted its holdings in shares of Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in Cloudflare during the second quarter valued at approximately $29,000. Finally, ORG Wealth Partners LLC grew its position in Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

NYSE NET opened at $211.83 on Wednesday. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The stock’s 50-day moving average is $185.89 and its two-hundred day moving average is $202.98. The firm has a market cap of $74.20 billion, a P/E ratio of -730.44 and a beta of 1.98. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98.

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

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 41,557 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the sale, the chief financial officer directly owned 85,452 shares in the company, valued at approximately $15,812,038.08. The trade was a 32.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $189.47, for a total transaction of $9,925,196.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 534,031 shares of company stock worth $99,017,195 over the last 90 days. Insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NET shares. Wolfe Research reiterated a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. Scotiabank dropped their price target 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. Robert W. Baird set a $260.00 price objective on Cloudflare and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Finally, Needham & Company LLC lowered their target price on Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Cloudflare 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.