Brown Advisory Inc. Has $737,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Brown Advisory Inc. raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 186.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,544 shares of the company's stock after acquiring an additional 4,263 shares during the quarter. Brown Advisory Inc.'s holdings in Cloudflare were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its stake in Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock valued at $752,000 after buying an additional 58 shares in the last quarter. Spire Wealth Management lifted its stake in Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after buying an additional 95 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after buying an additional 98 shares in the last quarter. Baxter Bros Inc. lifted its stake in Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after buying an additional 100 shares in the last quarter. Finally, Ellevest Inc. lifted its stake in Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock valued at $489,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $2.74 on Wednesday, hitting $189.71. The company had a trading volume of 3,095,672 shares, compared to its average volume of 3,172,663. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $198.01. The stock has a market cap of $65.75 billion, a price-to-earnings ratio of -824.81 and a beta of 1.85. The stock has a 50 day moving average price of $173.25 and a 200 day moving average price of $142.04. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90.

Cloudflare (NYSE:NET - Get Free Report) last released 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 4.62% and a negative return on equity of 6.31%. The company had revenue of $479.09 million during 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. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $152.68, for a total value of $7,997,989.12. Following the transaction, the chief executive officer directly owned 10,426 shares in the company, valued at $1,591,841.68. The trade was a 83.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 35,098 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the completion of the transaction, the insider owned 6,390 shares in the company, valued at $1,002,143.70. This trade represents a 84.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 555,420 shares of company stock worth $92,289,281 over the last ninety days. Insiders own 10.89% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Susquehanna cut their price target on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Mizuho boosted their price objective on shares of Cloudflare from $155.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday. Capital One Financial raised shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, KeyCorp began coverage on shares of Cloudflare in a research report on Friday, June 6th. They issued an "overweight" rating and a $210.00 price objective on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued 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 an average target price of $152.32.

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.