Cloudflare, Inc. (NYSE:NET) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598,080 shares of the company's stock after acquiring an additional 3,861 shares during the period. Bessemer Group Inc. owned 0.17% of Cloudflare worth $67,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC increased its holdings in shares of 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 purchasing an additional 58 shares during the period. Spire Wealth Management boosted its position 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 during the last quarter. Yousif Capital Management LLC increased its holdings in Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after buying an additional 98 shares during the period. Baxter Bros Inc. raised its position in Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after buying an additional 100 shares during the last quarter. Finally, Ellevest Inc. raised its position in Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the transaction, the insider now directly owns 188,406 shares of the company's stock, valued at $21,257,848.98. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold a total of 515,987 shares of company stock valued at $77,174,354 in the last 90 days. 10.89% of the stock is owned by insiders.

Cloudflare Price Performance

Cloudflare stock traded up $2.68 during midday trading on Friday, reaching $193.64. The company had a trading volume of 746,331 shares, compared to its average volume of 3,124,272. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $193.83. The company has a market capitalization of $67.12 billion, a P/E ratio of -841.35 and a beta of 1.84. The firm's fifty day simple moving average is $153.32 and its 200-day simple moving average is $134.66.

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). The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. Cloudflare's revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

NET has been the topic of several recent research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. The Goldman Sachs Group lowered their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Morgan Stanley increased their price target on Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Cowen reissued a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Finally, Piper Sandler restated a "neutral" rating and issued a $151.00 target price (up previously from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $145.92.

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.