Prospera Financial Services Inc Decreases Stake in Cloudflare, Inc. (NYSE:NET)

Prospera Financial Services Inc decreased its holdings in Cloudflare, Inc. (NYSE:NET) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,498 shares of the company’s stock after selling 405 shares during the quarter. Prospera Financial Services Inc’s holdings in Cloudflare were worth $283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NET. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares during the period. Elo Mutual Pension Insurance Co grew its holdings in Cloudflare by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Cloudflare by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after buying an additional 137 shares in the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Cloudflare by 6.1% in the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $24,030,141.07. The trade was a 10.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 546,194 shares of company stock valued at $46,804,995. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of research reports. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Finally, Mizuho lifted their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.88.

Cloudflare Price Performance

Cloudflare stock opened at $103.74 on Tuesday. The firm has a fifty day moving average of $88.21 and a 200-day moving average of $81.55. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $35.60 billion, a P/E ratio of -399.00 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts predict 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.