Dynamic Advisor Solutions LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Dynamic Advisor Solutions LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,982 shares of the company's stock, valued at approximately $223,000.

A number of other large investors have also recently added to or reduced their stakes in NET. NBC Securities Inc. acquired a new position in shares of Cloudflare during the first quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its position in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the period. Global Financial Private Client LLC grew its position in Cloudflare by 38,100.0% in the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after acquiring an additional 381 shares during the period. Finally, CVA Family Office LLC grew its position in Cloudflare by 37.1% in the first quarter. CVA Family Office LLC now owns 392 shares of the company's stock valued at $44,000 after acquiring an additional 106 shares during the period. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 0.1%

Shares of Cloudflare stock opened at $181.35 on Friday. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $182.98. The business has a 50-day moving average of $145.48 and a two-hundred day moving average of $132.05. The company has a market capitalization of $62.86 billion, a P/E ratio of -788.47 and a beta of 1.84. 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 (NYSE:NET - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on NET shares. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Susquehanna cut their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada cut their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Oppenheimer reaffirmed an "outperform" rating and set a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Finally, Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and upped their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $145.92.

Insider Buying and Selling

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60. Following the completion of the transaction, the insider now directly owns 413,413 shares in the company, valued at $48,509,881.42. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares of the company's stock, valued at approximately $35,270,941.48. This represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 557,267 shares of company stock worth $81,730,346. 10.89% of the stock is owned by corporate insiders.

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.

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