Taylor Frigon Capital Management LLC Sells 17,100 Shares of Cloudflare, Inc. (NYSE:NET)

Taylor Frigon Capital Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 48.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,341 shares of the company's stock after selling 17,100 shares during the period. Taylor Frigon Capital Management LLC's holdings in Cloudflare were worth $2,077,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC boosted its stake in Cloudflare by 0.8% during 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 Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after purchasing an additional 95 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after buying an additional 98 shares during the period. Baxter Bros Inc. increased its holdings in shares of Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after buying an additional 100 shares during the period. Finally, Ellevest Inc. grew its stake in shares of Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.9%

NET stock opened at $194.68 on Monday. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $196.65. The business has a fifty day moving average price of $155.06 and a 200-day moving average price of $135.52. 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 stock has a market capitalization of $67.48 billion, a P/E ratio of -846.41 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results 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 6.31% and a negative net margin of 4.62%. The business had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm's revenue for the quarter was up 26.5% compared to the same quarter last year. Equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of several recent analyst reports. Morgan Stanley raised their target price on Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC raised their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada cut their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 16th. Finally, Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $145.92.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 492 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $181.46, for a total value of $89,278.32. Following the completion of the sale, the director now owns 1,083,123 shares in the company, valued at $196,543,499.58. This represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 2,311 shares of the company's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at approximately $44,545,250.75. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 515,987 shares of company stock worth $77,174,354 in the last quarter. Company insiders own 10.89% of the company's stock.

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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