Castle Rock Wealth Management LLC Has $1.33 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Castle Rock Wealth Management LLC trimmed its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 24.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,714 shares of the company's stock after selling 3,760 shares during the period. Castle Rock Wealth Management LLC's holdings in Cloudflare were worth $1,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NET. Blue Trust Inc. increased its stake in Cloudflare by 35.2% during the 4th quarter. Blue Trust Inc. now owns 3,308 shares of the company's stock worth $356,000 after buying an additional 861 shares during the period. Strategic Blueprint LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $265,000. Swedbank AB boosted its holdings in shares of Cloudflare by 42.8% in the 4th quarter. Swedbank AB now owns 27,043 shares of the company's stock valued at $2,912,000 after buying an additional 8,102 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Cloudflare by 22.7% in the 4th quarter. Mediolanum International Funds Ltd now owns 9,247 shares of the company's stock valued at $1,006,000 after buying an additional 1,713 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock worth $293,000 after purchasing an additional 105 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the sale, the insider now directly owns 188,406 shares of the company's stock, valued at $21,257,848.98. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the completion of the sale, the insider now directly owns 413,413 shares of the company's stock, valued at $54,095,091.05. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 504,085 shares of company stock valued at $65,810,967. 12.83% of the stock is owned by insiders.

Cloudflare Stock Performance

Shares of Cloudflare stock traded up $8.33 during trading on Thursday, hitting $179.25. 2,340,922 shares of the stock were exchanged, compared to its average volume of 3,126,172. The stock's fifty day moving average is $129.87 and its 200 day moving average is $126.16. The stock has a market cap of $62.13 billion, a PE ratio of -814.77 and a beta of 1.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 12 month low of $68.16 and a 12 month high of $181.07.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period in the previous year, the company earned $0.16 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NET. Cantor Fitzgerald increased their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Susquehanna decreased their price target on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average price target of $143.25.

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.