Avant Financial Advisors LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Avant Financial Advisors LLC purchased 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 institutional investor purchased 2,400 shares of the company's stock, valued at approximately $258,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in shares of Cloudflare by 19.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 32,153 shares of the company's stock worth $3,462,000 after buying an additional 5,130 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Cloudflare in the 4th quarter valued at about $233,000. Blue Trust Inc. increased its stake in shares of Cloudflare by 35.2% during the fourth quarter. Blue Trust Inc. now owns 3,308 shares of the company's stock worth $356,000 after purchasing an additional 861 shares during the period. KBC Group NV increased its position in Cloudflare by 9.2% during the 4th quarter. KBC Group NV now owns 40,655 shares of the company's stock worth $4,378,000 after buying an additional 3,418 shares during the period. Finally, Foundations Investment Advisors LLC acquired a new stake in Cloudflare in the 4th quarter worth about $1,861,000. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.2%

Shares of NYSE NET traded up $2.05 on Friday, reaching $166.21. 3,894,099 shares of the company's stock traded hands, compared to its average volume of 3,143,466. The business's 50 day simple moving average is $126.70 and its two-hundred day simple moving average is $124.52. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a market cap of $57.61 billion, a price-to-earnings ratio of -755.50 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.

Cloudflare (NYSE:NET - Get Free Report) last issued 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 return on equity of 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company's quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $156.72, for a total value of $4,018,300.80. Following the completion of the transaction, the insider now directly owns 6,390 shares in the company, valued at $1,001,440.80. This represents a 80.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the company'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 completion of the transaction, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at approximately $35,229,840. This trade represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 501,085 shares of company stock worth $65,312,967 in the last ninety days. Insiders own 12.83% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NET. Guggenheim boosted their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Friday, May 9th. Cantor Fitzgerald raised their price objective on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. JMP Securities boosted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, Baird R W lowered Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. 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's stock. According to MarketBeat, Cloudflare has an average rating of "Hold" and an average target price of $141.79.

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.