Lyell Wealth Management LP Has $5.12 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Lyell Wealth Management LP grew its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 18.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,558 shares of the company's stock after buying an additional 7,291 shares during the period. Lyell Wealth Management LP's holdings in Cloudflare were worth $5,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NET. Stratos Wealth Partners LTD. increased its stake in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after acquiring an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock worth $293,000 after acquiring an additional 105 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Cloudflare by 0.5% in the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company's stock worth $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Wealth Management Partners LLC boosted its stake in shares of Cloudflare by 3.3% during the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company's stock valued at $382,000 after buying an additional 114 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NYSE:NET traded down $4.55 during trading on Friday, reaching $151.83. The company had a trading volume of 3,652,849 shares, compared to its average volume of 3,999,010. The firm's fifty day moving average is $130.11 and its 200 day moving average is $103.08. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $52.11 billion, a PE ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $17,372,001.96. The trade was a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares of the company's stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 533,297 shares of company stock valued at $62,604,696 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Scotiabank boosted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Piper Sandler boosted their price objective on Cloudflare from $92.00 to $153.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Jefferies Financial Group increased their target price on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Oppenheimer downgraded Cloudflare from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Finally, DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $136.28.

Cloudflare Company 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.