Vestor Capital LLC Has $7.16 Million Position in Cloudflare, Inc. (NYSE:NET)

Vestor Capital LLC trimmed its position in shares of Cloudflare, Inc. (NYSE:NET – Get Rating) by 16.4% during the first quarter, Holdings Channel.com reports. The fund owned 59,836 shares of the company’s stock after selling 11,724 shares during the quarter. Vestor Capital LLC’s holdings in Cloudflare were worth $7,162,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co purchased a new position in Cloudflare during the 1st quarter worth $29,000. Private Capital Group LLC boosted its holdings in Cloudflare by 109.2% during the 1st quarter. Private Capital Group LLC now owns 251 shares of the company’s stock worth $30,000 after acquiring an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Cloudflare during the 4th quarter worth $34,000. Clearstead Advisors LLC boosted its holdings in Cloudflare by 93.8% during the 1st quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock worth $37,000 after acquiring an additional 150 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Cloudflare during the 4th quarter worth $42,000. 69.96% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET traded up $15.81 during midday trading on Friday, hitting $74.24. The stock had a trading volume of 22,629,663 shares, compared to its average volume of 4,849,662. The company has a market cap of $24.22 billion, a P/E ratio of -81.58 and a beta of 1.22. The business has a fifty day moving average of $49.92 and a 200 day moving average of $79.80. The company has a debt-to-equity ratio of 2.78, a quick ratio of 6.85 and a current ratio of 6.85. Cloudflare, Inc. has a 1 year low of $38.96 and a 1 year high of $221.64.

Cloudflare (NYSE:NET – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Cloudflare had a negative return on equity of 22.43% and a negative net margin of 35.66%. The firm had revenue of $212.20 million during the quarter, compared to analysts’ expectations of $205.66 million. During the same period in the prior year, the company earned ($0.11) EPS. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NET shares. Needham & Company LLC lowered their target price on Cloudflare from $245.00 to $100.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Piper Sandler lifted their target price on Cloudflare from $57.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial lowered their price objective on Cloudflare from $180.00 to $140.00 in a research note on Friday, May 6th. Evercore ISI lowered their price objective on Cloudflare from $110.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 28th. Finally, Jefferies Financial Group lowered their price objective on Cloudflare from $75.00 to $55.00 in a research note on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $119.81.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Scott D. Sandell sold 2,441 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $40.91, for a total value of $99,861.31. Following the completion of the sale, the director now owns 3,454 shares in the company, valued at $141,303.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, Director Scott D. Sandell sold 2,441 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $40.91, for a total value of $99,861.31. Following the completion of the sale, the director now owns 3,454 shares in the company, valued at $141,303.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $56.88, for a total value of $2,979,601.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 264,361 shares of company stock worth $14,350,405. 15.99% of the stock is currently owned by insiders.

About Cloudflare

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.