Cloudflare, Inc. (NYSE:NET) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors boosted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,228 shares of the company's stock after purchasing an additional 8,401 shares during the period. Captrust Financial Advisors' holdings in Cloudflare were worth $5,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of NET. Capital World Investors grew its holdings in shares of Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after acquiring an additional 68,661 shares during the last quarter. Groupama Asset Managment purchased a new position in Cloudflare during the 4th quarter valued at $269,200,000. Norges Bank purchased a new stake in Cloudflare during the 4th quarter valued at about $249,544,000. Finally, American Century Companies Inc. lifted its stake in Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after acquiring an additional 1,017,399 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the subject of several recent research reports. Robert W. Baird restated a "neutral" rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Truist Financial increased their price target on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. JMP Securities boosted their price objective on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. Finally, Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $141.79.

Cloudflare Stock Performance

NYSE:NET traded up $8.03 during trading hours on Tuesday, hitting $150.39. 5,127,800 shares of the company traded hands, compared to its average volume of 3,125,322. The firm has a 50-day moving average of $116.38 and a 200 day moving average of $118.56. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of -683.59 and a beta of 1.78.

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 net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period last year, the business posted $0.16 EPS. The firm's revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total value of $4,640,874.45. Following the transaction, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at $47,580,834.74. The trade was a 8.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 492,492 shares of company stock worth $63,757,685 in the last ninety days. Corporate insiders own 12.83% of the company's stock.

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.