Larson Financial Group LLC Raises Holdings in Cloudflare, Inc. (NYSE:NET)

Larson Financial Group LLC boosted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 243.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,865 shares of the company's stock after acquiring an additional 1,322 shares during the quarter. Larson Financial Group LLC's holdings in Cloudflare were worth $210,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. bought a new position in Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC grew its position in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $43,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Down 3.4%

NET stock traded down $6.79 during midday trading on Tuesday, reaching $190.98. 2,009,245 shares of the company traded hands, compared to its average volume of 3,179,493. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $200.77. 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 business has a 50 day moving average of $175.86 and a 200-day moving average of $143.68. The firm has a market capitalization of $66.19 billion, a price-to-earnings ratio of -830.57 and a beta of 1.85.

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). The business had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The company's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the subject of a number of research analyst reports. Cowen restated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective for the company in a research note on Monday, May 12th. UBS Group lifted their price objective on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley reiterated an "overweight" rating and set a $225.00 price objective (up previously from $150.00) on shares of Cloudflare in a research note on Friday, July 11th. Finally, Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Moderate Buy" and an average target price of $155.32.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the transaction, the chief executive officer directly owned 10,426 shares in the company, valued at $1,591,841.68. The trade was a 83.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.78, for a total value of $6,515,149.68. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $37,870,209. This represents a 14.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 581,062 shares of company stock worth $99,070,153 in the last 90 days. Corporate insiders own 10.89% of the company's stock.

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.