Bridgefront Capital LLC Purchases Shares of 2,255 Cloudflare, Inc. (NYSE:NET)

Bridgefront Capital LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,255 shares of the company's stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the period. Whittier Trust Co. lifted its position in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares in the last quarter. Sava Infond d.o.o. purchased a new position in Cloudflare during the fourth quarter valued at $65,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Cloudflare during the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 2,311 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $44,545,250.75. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $124.16, for a total transaction of $372,480.00. Following the transaction, the insider now directly owns 185,406 shares of the company's stock, valued at $23,020,008.96. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 492,492 shares of company stock worth $63,757,685. Corporate insiders own 12.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. Truist Financial upped their target price on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Guggenheim increased their price objective on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada dropped their price objective on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $141.79.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $1.44 during trading on Wednesday, hitting $151.80. 1,829,121 shares of the company traded hands, compared to its average volume of 3,120,715. The stock has a market capitalization of $52.38 billion, a price-to-earnings ratio of -690.00 and a beta of 1.78. The business's fifty day moving average is $116.38 and its 200-day moving average is $118.56. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the company earned $0.16 earnings per share. The business's revenue for the quarter was up 26.5% on a year-over-year basis. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company 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.