EP Wealth Advisors LLC Invests $237,000 in Cloudflare, Inc. (NYSE:NET)

EP Wealth Advisors LLC bought a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,201 shares of the company's stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hartline Investment Corp increased its position in shares of Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock valued at $28,464,000 after acquiring an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC acquired a new position in Cloudflare during the fourth quarter worth approximately $215,000. Strategic Blueprint LLC acquired a new position in Cloudflare during the fourth quarter worth approximately $265,000. Clarendon Private LLC acquired a new position in Cloudflare during the fourth quarter worth approximately $293,000. Finally, Savant Capital LLC acquired a new position in Cloudflare during the fourth quarter worth approximately $237,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NET shares. Oppenheimer boosted their price target on Cloudflare from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. DZ Bank downgraded Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. Guggenheim boosted their price target on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Cantor Fitzgerald boosted their price target on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $141.79.

Cloudflare Price Performance

Shares of NET stock traded up $4.26 during trading on Friday, hitting $157.06. The company had a trading volume of 5,364,182 shares, compared to its average volume of 3,145,757. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $54.20 billion, a P/E ratio of -713.89 and a beta of 1.78. The stock's 50-day moving average price is $118.38 and its 200 day moving average price is $119.71. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The firm's revenue for the quarter was up 26.5% on a year-over-year basis. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the business'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 transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders sold a total of 597,260 shares of company stock worth $79,553,032 over the last three months. 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.