1,830 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Accel Wealth Management

Accel Wealth Management acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,830 shares of the company's stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBC Securities Inc. bought a new position in Cloudflare during the 1st quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare during the fourth quarter valued at $43,000. Global Financial Private Client LLC raised its position in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after purchasing an additional 381 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Cloudflare in the 4th quarter worth about $56,000. Institutional investors own 82.68% of the company's stock.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 293,582 shares in the company, valued at $35,229,840. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $48,501,613.16. This trade represents a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,085 shares of company stock worth $65,810,967. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

NET traded up $5.41 during trading on Thursday, hitting $176.33. The company's stock had a trading volume of 5,246,626 shares, compared to its average volume of 3,130,839. The business's 50 day simple moving average is $131.14 and its 200-day simple moving average is $126.74. The firm has a market cap of $61.12 billion, a PE ratio of -801.51 and a beta of 1.78. Cloudflare, Inc. has a one year low of $69.26 and a one year high of $181.07. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the prior year, the business posted $0.16 earnings per share. Cloudflare's revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JMP Securities increased their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Needham & Company LLC increased their price target on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. Jefferies Financial Group decreased their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, May 9th. Royal Bank of Canada cut their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company 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 given a strong buy rating to the company's stock. According to MarketBeat, Cloudflare currently has an average rating of "Hold" and a consensus target price of $143.25.

About Cloudflare

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.