Kingswood Wealth Advisors LLC Purchases Shares of 1,918 Cloudflare, Inc. (NYSE:NET)

Kingswood Wealth Advisors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,918 shares of the company's stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of NET. CreativeOne Wealth LLC grew its stake 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 acquiring an additional 58 shares in the last quarter. Yousif Capital Management LLC boosted 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 valued at $447,000 after purchasing an additional 98 shares during the period. Baxter Bros Inc. grew its position in shares of 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 purchasing an additional 100 shares in the last quarter. Ellevest Inc. increased its holdings in shares of Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after purchasing an additional 102 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Cloudflare by 19.3% during the first quarter. Versant Capital Management Inc now owns 655 shares of the company's stock worth $74,000 after purchasing an additional 106 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Katrin Suder sold 608 shares of Cloudflare stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $172.00, for a total transaction of $104,576.00. Following the completion of the transaction, the director now owns 41,785 shares of the company's stock, valued at $7,187,020. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Ledbetter sold 749 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $181.46, for a total transaction of $135,913.54. Following the sale, the director now directly owns 1,083,615 shares in the company, valued at $196,632,777.90. This trade represents a 0.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 515,987 shares of company stock valued at $77,174,354. Company insiders own 10.89% of the company's stock.

Cloudflare Trading Up 1.9%

NYSE:NET traded up $3.72 during mid-day trading on Friday, hitting $194.68. 4,894,749 shares of the company's stock were exchanged, compared to its average volume of 3,140,523. Cloudflare, Inc. has a fifty-two week low of $69.26 and a fifty-two week high of $194.68. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $67.48 billion, a P/E ratio of -846.41 and a beta of 1.84. The company has a 50 day simple moving average of $153.32 and a 200-day simple moving average of $134.66.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly 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 business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NET. Guggenheim boosted their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Friday, May 9th. Jefferies Financial Group cut their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Susquehanna decreased their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Morgan Stanley upped their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their target price 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $145.92.

Cloudflare 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.