HUB Investment Partners LLC Has $4.86 Million Stock Position in Cloudflare, Inc. $NET

Key Points

• HUB Investment Partners boosted its Cloudflare stake 31.8% in Q3 to 22,634 shares, valued at about $4.86 million.
• Cloudflare beat quarterly estimates (EPS $0.28 vs $0.27; revenue $614.5M vs $591.7M), with revenue up 33.6% year-over-year, though analysts expect -$0.11 EPS for the current fiscal year.
• Significant insider selling occurred recently—CEO Matthew Prince sold 52,384 shares (~$10.2M) and insiders sold 577,492 shares (~$107.9M) in the last 90 days; insiders own ~10.9% while institutions hold ~82.7% of the stock.

HUB Investment Partners LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 31.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,634 shares of the company's stock after purchasing an additional 5,457 shares during the quarter. HUB Investment Partners LLC's holdings in Cloudflare were worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. grew its position in shares of Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after buying an additional 104 shares during the period. Westside Investment Management Inc. grew its holdings in Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock worth $28,000 after acquiring an additional 65 shares during the period. ORG Wealth Partners LLC grew its holdings in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company's stock worth $30,000 after acquiring an additional 70 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Cloudflare during the 2nd quarter valued at $29,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Cloudflare in the 3rd quarter valued at $32,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 1.3%

NET stock opened at $194.79 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $68.23 billion, a P/E ratio of -671.67 and a beta of 1.98. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The business has a 50-day moving average of $184.30 and a 200-day moving average of $202.48.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.Cloudflare's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NET. Robert W. Baird set a $260.00 price objective on Cloudflare and gave the company an "outperform" rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Cloudflare from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. Oppenheimer started coverage on shares of Cloudflare in a report on Monday, November 10th. They set an "outperform" rating and a $260.00 price objective for the company. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Cloudflare in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $230.70.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $194.77, for a total value of $10,202,831.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,080 shares of the business's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the completion of the sale, the insider directly owned 34,514 shares in the company, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 577,492 shares of company stock valued at $107,933,433 in the last ninety days. 10.89% of the stock is currently owned by corporate insiders.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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