15,198 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Warm Springs Advisors Inc.

Warm Springs Advisors Inc. acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,198 shares of the company's stock, valued at approximately $1,637,000. Cloudflare comprises 1.5% of Warm Springs Advisors Inc.'s investment portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also recently modified their holdings of the company. WCG Wealth Advisors LLC lifted its holdings in Cloudflare by 2.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 11,126 shares of the company's stock valued at $1,198,000 after acquiring an additional 246 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $69,000. Vise Technologies Inc. purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $417,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $43,000. Finally, JT Stratford LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $305,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Up 2.4%

NYSE NET traded up $3.73 during trading hours on Tuesday, hitting $161.77. 2,907,072 shares of the company were exchanged, compared to its average volume of 3,159,376. 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 $55.82 billion, a price-to-earnings ratio of -735.32 and a beta of 1.78. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $124.25 and a two-hundred day moving average of $123.24.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) 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 firm had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period last year, the company earned $0.16 earnings per share. The firm's revenue for the quarter was up 26.5% compared to the same quarter last year. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent analyst 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 research report on Monday, February 3rd. 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 report on Friday, February 7th. Guggenheim boosted their price objective on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. boosted their price target on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Three equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $141.79.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total value of $372,480.00. Following the completion of the sale, the insider now directly owns 185,406 shares of the company's stock, valued at $23,020,008.96. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 511,913 shares of company stock worth $66,395,593. 12.83% of the stock is currently owned by insiders.

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.