Cloudflare, Inc. (NYSE:NET) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 15,425 shares of the company’s stock after selling 138 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cloudflare were worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CVA Family Office LLC lifted its stake in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare in the second quarter worth about $29,000. Quarry LP lifted its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. This represents a 1.59 % 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, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 543,199 shares of company stock worth $46,183,984 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Mizuho boosted their price objective on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.88.

Cloudflare Stock Performance

Shares of NET stock opened at $92.32 on Tuesday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The firm has a market capitalization of $31.55 billion, a price-to-earnings ratio of -355.08 and a beta of 1.10. The business has a 50 day simple moving average of $86.12 and a 200 day simple moving average of $80.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides 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; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.