Cetera Investment Advisers Increases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Cetera Investment Advisers lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,203 shares of the company's stock after purchasing an additional 4,518 shares during the quarter. Cetera Investment Advisers' holdings in Cloudflare were worth $8,529,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after buying an additional 517 shares in the last quarter. GAMMA Investing LLC grew its stake 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 in the last quarter. Whittier Trust Co. raised its holdings in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after acquiring an additional 329 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Cloudflare during the 4th quarter worth about $65,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Cloudflare during the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on NET shares. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. DZ Bank lowered Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price for the company. in a research note on Tuesday, February 11th. Jefferies Financial Group decreased their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Finally, Truist Financial upped their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $141.79.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock worth $63,757,685 in the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

Shares of NYSE:NET traded down $1.91 during midday trading on Thursday, reaching $152.58. 2,940,920 shares of the company's stock traded hands, compared to its average volume of 3,134,795. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The stock has a 50 day moving average of $116.93 and a 200 day moving average of $118.80. The company has a market cap of $52.65 billion, a price-to-earnings ratio of -693.55 and a beta of 1.78. 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 (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS 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 company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business's quarterly revenue was up 26.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.