Aspiriant LLC Sells 1,926 Shares of Cloudflare, Inc. (NYSE:NET)

Aspiriant LLC trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 21.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,911 shares of the company’s stock after selling 1,926 shares during the quarter. Aspiriant LLC’s holdings in Cloudflare were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NET. CVA Family Office LLC lifted its position in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the period. Riverview Trust Co acquired a new position in Cloudflare in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC grew its holdings in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare in the 2nd quarter worth about $29,000. Finally, Quarry LP lifted its stake in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the sale, the insider now directly owns 195,303 shares in the company, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 507,552 shares of company stock worth $41,631,505 over the last quarter. 12.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NET shares. Guggenheim boosted their price target on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Piper Sandler increased their target price on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Mizuho increased their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $82.00 in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.72.

Cloudflare Price Performance

NET opened at $90.80 on Friday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The firm has a 50-day moving average of $82.39 and a 200 day moving average of $81.01. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a market cap of $30.85 billion, a P/E ratio of -171.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. On average, research analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current year.

Cloudflare 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.