Creekmur Asset Management LLC Grows Position in Cloudflare, Inc. $NET

Creekmur Asset Management LLC grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 31.4% in the third quarter, Holdings Channel.com reports. The firm owned 15,829 shares of the company’s stock after buying an additional 3,787 shares during the period. Cloudflare comprises about 0.6% of Creekmur Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Creekmur Asset Management LLC’s holdings in Cloudflare were worth $3,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Physician Wealth Advisors Inc. boosted its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after buying an additional 104 shares during the period. Westside Investment Management Inc. lifted its position 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 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 worth $29,000. ORG Wealth Partners LLC boosted its holdings in shares of Cloudflare by 101.4% in 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 purchased a new position in shares of Cloudflare in the third quarter valued at $31,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $171.80 on Friday. 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 firm’s fifty day simple moving average is $185.86 and its 200 day simple moving average is $202.95. The stock has a market cap of $60.18 billion, a P/E ratio of -592.38 and a beta of 1.97. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The company’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. New Street Research set a $140.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. Jefferies Financial Group raised their price objective on Cloudflare from $185.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, February 11th. BTIG Research boosted their price target on shares of Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, February 13th. Finally, Piper Sandler boosted their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.70.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $201.23, for a total value of $10,541,232.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20. Following the sale, the insider directly owned 34,514 shares in the company, valued at approximately $6,467,578.46. The trade was a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 610,780 shares of company stock valued at $115,913,967 over the last three months. Corporate insiders own 10.89% of the company’s stock.

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.