Stifel Financial Corp Has $2.92 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Stifel Financial Corp decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 23.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,039 shares of the company's stock after selling 11,274 shares during the period. Stifel Financial Corp's holdings in Cloudflare were worth $2,915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its position in Cloudflare by 73.8% in the 3rd quarter. Quantinno Capital Management LP now owns 30,093 shares of the company's stock valued at $2,434,000 after buying an additional 12,774 shares during the last quarter. Quarry LP boosted its holdings in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Cloudflare by 8.0% in the third quarter. Royal London Asset Management Ltd. now owns 120,901 shares of the company's stock worth $9,780,000 after purchasing an additional 9,003 shares during the period. Reynders McVeigh Capital Management LLC increased its position in Cloudflare by 3.4% in the third quarter. Reynders McVeigh Capital Management LLC now owns 151,646 shares of the company's stock worth $12,267,000 after purchasing an additional 4,968 shares during the period. Finally, Polymer Capital Management HK LTD bought a new stake in Cloudflare during the 3rd quarter worth about $506,000. Institutional investors own 82.68% of the company's stock.

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $22,284,303.57. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 64,100 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00. Following the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,681,643.20. This trade represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 509,824 shares of company stock worth $47,862,488 over the last ninety days. Insiders own 12.83% of the company's stock.

Cloudflare Stock Down 2.5 %

NYSE NET traded down $2.97 on Wednesday, reaching $114.59. The company had a trading volume of 940,380 shares, compared to its average volume of 3,146,699. The company's fifty day moving average is $97.50 and its 200-day moving average is $85.78. The firm has a market capitalization of $39.33 billion, a price-to-earnings ratio of -441.35 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to analysts' expectations of $423.65 million. On average, research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NET shares. Morgan Stanley raised shares of Cloudflare from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Piper Sandler lifted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. UBS Group upped their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Scotiabank raised their price target on Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research report on Friday, November 8th. Finally, Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and a consensus target price of $96.77.

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.