Apollon Wealth Management LLC Grows Holdings in Cloudflare, Inc. (NYSE:NET)

Apollon Wealth Management LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,119 shares of the company’s stock after buying an additional 269 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cloudflare were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NET. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cloudflare by 47.3% during the 1st quarter. Acadian Asset Management LLC now owns 12,397 shares of the company’s stock worth $1,196,000 after acquiring an additional 3,980 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cloudflare by 22.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,607 shares of the company’s stock worth $1,027,000 after acquiring an additional 1,933 shares during the period. UniSuper Management Pty Ltd grew its holdings in Cloudflare by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 4,200 shares of the company’s stock valued at $407,000 after purchasing an additional 2,100 shares during the period. Finally, Natixis acquired a new position in Cloudflare during the first quarter worth approximately $28,334,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $81.91, for a total value of $2,100,172.40. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at $15,741,218.07. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04. Following the sale, the chief executive officer now owns 10,761 shares in the company, valued at $840,003.66. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 543,199 shares of company stock worth $46,183,984 over the last ninety days. 12.83% of the stock is owned by insiders.

Cloudflare Price Performance

NET opened at $92.32 on Tuesday. 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 $116.00. The company has a 50-day moving average of $86.12 and a 200-day moving average of $80.78. The company has a market capitalization of $31.55 billion, a P/E ratio of -354.96 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

NET has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Guggenheim lifted their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Mizuho upped their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. BNP Paribas assumed coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Finally, Cantor Fitzgerald increased their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.