Archon Partners LLC Invests $5.71 Million in Cloudflare, Inc. (NYSE:NET)

Archon Partners LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,000 shares of the company's stock, valued at approximately $5,707,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stifel Financial Corp raised its position in shares of Cloudflare by 30.6% during the fourth quarter. Stifel Financial Corp now owns 47,050 shares of the company's stock worth $5,066,000 after purchasing an additional 11,011 shares during the period. Tower Research Capital LLC TRC raised its holdings in Cloudflare by 184.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,547 shares of the company's stock worth $274,000 after buying an additional 1,651 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Cloudflare by 12.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 216,081 shares of the company's stock valued at $23,267,000 after buying an additional 23,700 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Cloudflare by 7.7% during the fourth quarter. MML Investors Services LLC now owns 30,658 shares of the company's stock valued at $3,301,000 after buying an additional 2,186 shares during the last quarter. Finally, Ossiam increased its position in shares of Cloudflare by 9.7% during the fourth quarter. Ossiam now owns 3,514 shares of the company's stock worth $378,000 after acquiring an additional 310 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Robert W. Baird reissued a "neutral" rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Truist Financial boosted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and increased their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Stifel Nicolaus boosted their target price on Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Oppenheimer assumed coverage on Cloudflare in a research report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $134.84.

Cloudflare Price Performance

Shares of NYSE NET traded up $2.16 during midday trading on Friday, hitting $121.03. 2,594,194 shares of the company's stock were exchanged, compared to its average volume of 3,194,107. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business's fifty day moving average price is $120.78 and its two-hundred day moving average price is $115.51. The company has a market cap of $41.76 billion, a price-to-earnings ratio of -550.14 and a beta of 1.59. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company's stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company's stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 496,973 shares of company stock valued at $64,559,903 over the last quarter. 12.83% of the stock is owned by corporate insiders.

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.