Lyell Wealth Management LP Has $2.55 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Lyell Wealth Management LP grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 8.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,673 shares of the company’s stock after buying an additional 2,292 shares during the period. Lyell Wealth Management LP’s holdings in Cloudflare were worth $2,554,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NET. Vanguard Group Inc. increased its position in shares of Cloudflare by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock valued at $1,728,448,000 after purchasing an additional 395,363 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Cloudflare in the 4th quarter worth about $27,288,000. QRG Capital Management Inc. purchased a new stake in Cloudflare in the 3rd quarter worth about $9,165,000. International Assets Investment Management LLC purchased a new stake in Cloudflare in the 4th quarter worth about $11,639,000. Finally, California Public Employees Retirement System boosted its stake in Cloudflare by 24.9% in the 3rd quarter. California Public Employees Retirement System now owns 523,856 shares of the company’s stock worth $33,024,000 after purchasing an additional 104,517 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on NET shares. Mizuho cut their target price on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Truist Financial raised their target price on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Royal Bank of Canada raised their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Susquehanna lifted their price target on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, JMP Securities lifted their price target on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $87.08.

Cloudflare Stock Down 0.8 %

Shares of NYSE NET traded down $0.74 during mid-day trading on Thursday, hitting $86.94. 1,379,088 shares of the stock traded hands, compared to its average volume of 3,735,314. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a fifty day moving average price of $95.39 and a 200-day moving average price of $82.50. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00. The company has a market cap of $29.36 billion, a price-to-earnings ratio of -156.93 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Research analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the sale, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,036,341 shares of company stock valued at $101,013,542. 14.80% of the stock is owned by company insiders.

About Cloudflare

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.