Independent Advisor Alliance Has $2.28 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Independent Advisor Alliance cut its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,162 shares of the company's stock after selling 8,430 shares during the period. Independent Advisor Alliance's holdings in Cloudflare were worth $2,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC increased its position in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock valued at $25,000 after purchasing an additional 171 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cloudflare during the second quarter valued at approximately $29,000. Quarry LP increased its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after purchasing an additional 146 shares during the period. Versant Capital Management Inc increased its position in shares of Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company's stock valued at $38,000 after purchasing an additional 421 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cloudflare during the third quarter valued at approximately $38,000. 82.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the sale, the director now owns 5,927 shares of the company's stock, valued at $521,576. This trade represents a 53.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,194 shares of company stock worth $46,804,995 over the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Trading Down 1.4 %

NYSE NET traded down $1.49 on Tuesday, reaching $102.24. The company had a trading volume of 2,361,464 shares, compared to its average volume of 3,182,159. The stock's 50 day moving average is $88.68 and its 200-day moving average is $81.76. The stock has a market cap of $35.09 billion, a price-to-earnings ratio of -393.19 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts' consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research reports. Guggenheim boosted their price objective on Cloudflare from $50.00 to $57.00 and gave the company a "sell" rating in a research report on Friday, August 2nd. UBS Group upped their price target on Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Susquehanna upped their price target on Cloudflare from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Needham & Company LLC reiterated a "buy" rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Finally, Piper Sandler upped their price target on Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of "Hold" and an average target price of $92.88.

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.