Cloudflare, Inc. (NYSE:NET) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,591 shares of the company's stock after purchasing an additional 8,239 shares during the period. Vident Advisory LLC's holdings in Cloudflare were worth $2,971,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock worth $60,000 after purchasing an additional 380 shares in the last quarter. Sava Infond d.o.o. acquired a new position in shares of Cloudflare during the fourth quarter worth $65,000. Whittier Trust Co. lifted its position in shares of Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Cloudflare during the fourth quarter worth $66,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $124.16, for a total transaction of $372,480.00. Following the transaction, the insider now owns 185,406 shares of the company's stock, valued at approximately $23,020,008.96. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 529,199 shares of company stock worth $68,401,233 in the last 90 days. Corporate insiders own 12.83% of the company's stock.

Cloudflare Stock Performance

Shares of NET opened at $156.37 on Thursday. The firm has a 50-day moving average price of $120.84 and a 200 day moving average price of $121.13. The firm has a market capitalization of $53.96 billion, a PE ratio of -710.79 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, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

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

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. CICC Research upgraded shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Morgan Stanley lifted their price target on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group dropped their price target on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $141.79.

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.

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