Coldstream Capital Management Inc. Invests $235,000 in Cloudflare, Inc. (NYSE:NET)

Coldstream Capital Management Inc. acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 2,183 shares of the company's stock, valued at approximately $235,000.

Other hedge funds also recently made changes to their positions in the company. CreativeOne Wealth LLC grew its position in shares of Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after purchasing an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. lifted its position in shares of Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock worth $319,000 after buying an additional 94 shares in the last quarter. Baxter Bros Inc. boosted its stake in Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after buying an additional 100 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after buying an additional 105 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on NET shares. JMP Securities increased their target price on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Wells Fargo & Company upped their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Oppenheimer initiated coverage on shares of Cloudflare in a report on Thursday, March 20th. They issued an "outperform" rating and a $150.00 price target for the company. Finally, Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $137.70.

Insider Activity

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,099 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was 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. Over the last ninety days, insiders have sold 492,492 shares of company stock worth $63,757,685. Corporate insiders own 12.83% of the company's stock.

Cloudflare Trading Down 0.4 %

Shares of NYSE NET traded down $0.53 during trading hours on Wednesday, reaching $121.76. The stock had a trading volume of 1,184,518 shares, compared to its average volume of 3,070,960. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a market cap of $42.02 billion, a price-to-earnings ratio of -553.22 and a beta of 1.78. The business's fifty day moving average price is $117.02 and its two-hundred day moving average price is $116.98. 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 (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. Analysts expect 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.