5,516 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by V2 Financial group LLC

V2 Financial group LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,516 shares of the company's stock, valued at approximately $622,000.

Several other large investors have also added to or reduced their stakes in the stock. Realta Investment Advisors bought a new position in Cloudflare in the 1st quarter worth about $551,000. Ballentine Partners LLC boosted its stake in Cloudflare by 19.9% in the 1st quarter. Ballentine Partners LLC now owns 4,049 shares of the company's stock worth $456,000 after purchasing an additional 671 shares during the period. Diversify Wealth Management LLC boosted its stake in Cloudflare by 32.8% in the 1st quarter. Diversify Wealth Management LLC now owns 3,382 shares of the company's stock worth $413,000 after purchasing an additional 835 shares during the period. Xponance Inc. boosted its stake in Cloudflare by 4.5% in the 1st quarter. Xponance Inc. now owns 57,909 shares of the company's stock worth $6,526,000 after purchasing an additional 2,503 shares during the period. Finally, Cerity Partners LLC boosted its stake in Cloudflare by 13.3% in the 1st quarter. Cerity Partners LLC now owns 21,168 shares of the company's stock worth $2,385,000 after purchasing an additional 2,489 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on NET. Guggenheim raised their target price on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. UBS Group boosted their price objective on Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group cut their price objective on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, May 9th. Susquehanna cut their price objective on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Finally, Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $148.92.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the transaction, the chief executive officer directly owned 10,426 shares of the company's stock, valued at approximately $1,591,841.68. The trade was a 83.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total value of $6,515,149.68. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $37,870,209. This trade represents a 14.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 581,060 shares of company stock valued at $95,040,197. Company insiders own 10.89% of the company's stock.

Cloudflare Price Performance

NET opened at $181.18 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $198.01. The stock has a market capitalization of $62.80 billion, a PE ratio of -787.74 and a beta of 1.85. The stock's 50 day moving average price is $169.44 and its 200-day moving average price is $140.69.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The business had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same period last year, the firm posted $0.16 earnings per share. Cloudflare's quarterly revenue was up 26.5% on a year-over-year basis. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current 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.

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