Diversified Trust Co Acquires Shares of 3,011 Cloudflare, Inc. (NYSE:NET)

Diversified Trust Co acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,011 shares of the company's stock, valued at approximately $339,000.

Several other large investors also recently modified their holdings of the company. CreativeOne Wealth LLC lifted its holdings in Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock valued at $752,000 after buying an additional 58 shares during the period. Spire Wealth Management raised its position in shares of Cloudflare by 11.0% in the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after acquiring an additional 95 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after purchasing an additional 98 shares during the period. Baxter Bros Inc. lifted its stake in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after purchasing an additional 100 shares during the period. Finally, Ellevest Inc. boosted its position in shares of Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock valued at $489,000 after purchasing an additional 102 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NYSE NET traded up $5.62 during midday trading on Thursday, reaching $191.26. The company's stock had a trading volume of 1,848,809 shares, compared to its average volume of 3,158,154. The stock has a market capitalization of $66.29 billion, a P/E ratio of -831.54 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a 50 day moving average price of $161.39 and a 200-day moving average price of $137.31. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $198.01.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The business's revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on NET shares. Piper Sandler reissued a "neutral" rating and issued a $151.00 price target (up from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Oppenheimer reissued an "outperform" rating and set a $200.00 target price (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Finally, Susquehanna cut their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus target price of $145.92.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 41,556 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $156.78, for a total transaction of $6,515,149.68. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $37,870,209. This represents a 14.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,098 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total value of $5,504,419.34. Following the completion of the sale, the insider directly owned 6,390 shares of the company's stock, valued at $1,002,143.70. This represents a 84.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 530,987 shares of company stock valued at $80,832,794. 10.89% of the stock is owned by insiders.

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.