Larson Financial Group LLC raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 243.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,865 shares of the company's stock after buying an additional 1,322 shares during the period. Larson Financial Group LLC's holdings in Cloudflare were worth $210,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in NET. Capital World Investors boosted its holdings in Cloudflare by 0.7% in the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock worth $3,812,942,000 after acquiring an additional 260,415 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after acquiring an additional 68,661 shares in the last quarter. Groupama Asset Managment purchased a new stake in shares of Cloudflare in the fourth quarter worth approximately $269,200,000. Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter worth approximately $249,544,000. Finally, American Century Companies Inc. raised its stake in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Institutional investors own 82.68% of the company's stock.
Cloudflare Price Performance
NYSE NET traded down $1.29 during trading hours on Wednesday, reaching $189.27. 2,858,681 shares of the stock traded hands, compared to its average volume of 3,191,126. The stock has a 50 day simple moving average of $178.49 and a two-hundred day simple moving average of $144.89. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $200.77. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market cap of $65.60 billion, a price-to-earnings ratio of -822.89 and a beta of 1.85.
Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The firm had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company's revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently commented on NET. Cowen reissued a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Guggenheim increased their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating 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 for the company in a research report on Monday, May 12th. Wells Fargo & Company increased their price objective on Cloudflare from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Monday. Finally, Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.32.
View Our Latest Analysis on Cloudflare
Insider Buying and Selling
In related news, insider Michelle Zatlyn sold 35,098 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the transaction, the insider owned 6,390 shares in the company, valued at $1,002,143.70. The trade was a 84.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 625,332 shares of company stock worth $107,911,278 in the last ninety days. Corporate insiders own 10.89% of the company's stock.
About Cloudflare
(
Free Report)
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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