Liontrust Investment Partners LLP Has $7.52 Million Position in Cloudflare, Inc. (NYSE:NET)

Key Points

• Liontrust Investment Partners LLP lowered its stake in Cloudflare, Inc. by 67.3%, reducing its holdings to 66,712 shares, valued at approximately $7.52 million.
• Several large investors increased their stakes in Cloudflare during the first quarter, with Mather Group LLC expanding by 1,188.2% and others like GPS Wealth Strategies Group LLC and MassMutual Private Wealth & Trust FSB also significantly raising their positions.
• Cloudflare recently reported $0.21 earnings per share, surpassing analysts' expectations, with revenue for the quarter up 27.8% year-over-year, indicating strong financial performance despite a negative net margin.

Liontrust Investment Partners LLP lowered its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 67.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,712 shares of the company's stock after selling 137,233 shares during the quarter. Liontrust Investment Partners LLP's holdings in Cloudflare were worth $7,518,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NET. Mather Group LLC. increased its stake in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Cloudflare in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC increased its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, the chief financial officer owned 241,550 shares in the company, valued at $48,351,063.50. The trade was a 12.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the sale, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 586,294 shares of company stock worth $106,298,200 in the last quarter. Corporate insiders own 10.89% of the company's stock.

Cloudflare Trading Down 2.1%

NYSE:NET opened at $195.18 on Friday. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $219.00. The company has a market cap of $68.02 billion, a PE ratio of -574.07 and a beta of 1.84. The company has a 50 day simple moving average of $191.31 and a two-hundred day simple moving average of $154.30.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

NET has been the topic of several recent analyst reports. DZ Bank reiterated a "sell" rating and issued a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. Scotiabank raised their price objective on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Citigroup reissued an "outperform" rating on shares of Cloudflare in a report on Monday, July 28th. UBS Group raised their price objective on Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, JMP Securities raised their price objective on Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a report on Monday, July 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cloudflare has an average rating of "Moderate Buy" and an average target price of $186.88.

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.

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