Joel Isaacson & Co. LLC Buys 3,926 Shares of Cloudflare, Inc. (NYSE:NET)

Joel Isaacson & Co. LLC increased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,875 shares of the company's stock after purchasing an additional 3,926 shares during the quarter. Joel Isaacson & Co. LLC's holdings in Cloudflare were worth $1,226,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NET. Bank of New York Mellon Corp boosted its position in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock worth $138,516,000 after purchasing an additional 23,641 shares during the period. Amalgamated Bank lifted its position in shares of Cloudflare by 0.5% during the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company's stock worth $2,154,000 after acquiring an additional 107 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Cloudflare by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 115,400 shares of the company's stock worth $12,426,000 after acquiring an additional 1,900 shares during the period. Kovack Advisors Inc. purchased a new stake in Cloudflare during the 4th quarter worth about $258,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Cloudflare during the fourth quarter valued at about $416,000. 82.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

NET has been the subject of several analyst reports. Jefferies Financial Group cut their price target 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. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and raised their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. The Goldman Sachs Group decreased their price objective on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Royal Bank Of Canada dropped their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Three equities research 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $145.92.

Insider Activity

In related news, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $171.41, for a total transaction of $4,395,123.81. Following the completion of the transaction, the insider directly owned 6,390 shares of the company's stock, valued at approximately $1,095,309.90. This trade represents a 80.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 10,050 shares of Cloudflare stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $181.57, for a total value of $1,824,778.50. Following the completion of the sale, the director directly owned 1,073,073 shares in the company, valued at $194,837,864.61. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 515,987 shares of company stock valued at $77,174,354. Company insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of Cloudflare stock traded up $1.62 on Monday, hitting $195.67. 2,897,357 shares of the company's stock were exchanged, compared to its average volume of 3,138,790. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $197.00. The company has a 50-day simple moving average of $155.06 and a 200-day simple moving average of $135.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a market capitalization of $67.82 billion, a PE ratio of -850.74 and a beta of 1.84.

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

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.