MML Investors Services LLC Sells 4,766 Shares of Cloudflare, Inc. (NYSE:NET)

MML Investors Services LLC decreased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 14.3% during the third quarter, HoldingsChannel.com reports. The firm owned 28,472 shares of the company’s stock after selling 4,766 shares during the period. MML Investors Services LLC’s holdings in Cloudflare were worth $2,303,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NET. CVA Family Office LLC lifted its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new stake in Cloudflare in the 3rd quarter worth approximately $38,000. Quest Partners LLC bought a new position in Cloudflare in the 3rd quarter valued at $54,000. Finally, Blue Trust Inc. grew its position in shares of Cloudflare by 37,600.0% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $19,572,040.44. The trade was a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $22,284,303.57. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 524,824 shares of company stock worth $49,037,888 in the last three months. 12.83% of the stock is owned by insiders.

Cloudflare Stock Down 1.1 %

NET opened at $113.60 on Monday. The company has a market cap of $38.99 billion, a P/E ratio of -436.92 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00. The business’s 50-day moving average price is $96.10 and its 200-day moving average price is $85.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, equities analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Mizuho boosted their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, UBS Group lifted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $95.20.

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.