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

Oppenheimer & Co. Inc. trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,425 shares of the company’s stock after selling 138 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cloudflare were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of NET. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Cloudflare by 47.3% in the 1st quarter. Acadian Asset Management LLC now owns 12,397 shares of the company’s stock valued at $1,196,000 after buying an additional 3,980 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cloudflare by 22.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,607 shares of the company’s stock valued at $1,027,000 after buying an additional 1,933 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of Cloudflare by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,200 shares of the company’s stock valued at $407,000 after buying an additional 2,100 shares during the period. Finally, Natixis acquired a new stake in shares of Cloudflare in the 1st quarter valued at approximately $28,334,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Robert W. Baird raised their price target on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Piper Sandler lifted their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Mizuho lifted their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average target price of $92.88.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $21,963,504.15. The trade was a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 543,199 shares of company stock valued at $46,183,984. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE:NET opened at $92.32 on Tuesday. The company has a market cap of $31.55 billion, a P/E ratio of -355.08 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00. The business has a fifty day simple moving average of $86.12 and a 200-day simple moving average of $80.78.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The business 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%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.