Cloudflare, Inc. (NYSE:NET) Shares Purchased by Cwm LLC

Cwm LLC raised its stake in Cloudflare, Inc. (NYSE:NET) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,884 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Cwm LLC’s holdings in Cloudflare were worth $407,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC grew its position in Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after acquiring an additional 132 shares during the period. Quent Capital LLC grew its holdings in shares of Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares during the period. Xponance Inc. increased its position in Cloudflare by 0.6% during the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Cloudflare by 1.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock valued at $1,244,000 after buying an additional 239 shares during the period. Finally, Profund Advisors LLC lifted its position in Cloudflare by 1.2% during the third quarter. Profund Advisors LLC now owns 21,982 shares of the company’s stock valued at $1,386,000 after buying an additional 251 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their price target on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Susquehanna boosted their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.09.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 10,015 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total value of $892,937.40. Following the completion of the sale, the director now owns 1,204,815 shares in the company, valued at $107,421,305.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cloudflare news, Director Carl Ledbetter sold 10,015 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the completion of the transaction, the director now owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at $30,002,489.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,033,325 shares of company stock worth $100,856,071 over the last 90 days. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NET opened at $88.09 on Thursday. The firm has a market capitalization of $29.74 billion, a PE ratio of -160.16 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $94.36 and a 200 day moving average price of $83.35.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

About Cloudflare

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.