Lodestone Wealth Management LLC Makes New $205,000 Investment in Cloudflare, Inc. (NYSE:NET)

Lodestone Wealth Management LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,823 shares of the company's stock, valued at approximately $205,000.

A number of other large investors have also recently made changes to their positions in the stock. CreativeOne Wealth LLC increased its holdings in 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 buying an additional 58 shares in the last quarter. Spire Wealth Management grew its position in shares of Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after acquiring an additional 95 shares during the period. Yousif Capital Management LLC increased its stake in shares of 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 in the last quarter. Baxter Bros Inc. increased its stake in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Ellevest Inc. raised its holdings in Cloudflare by 2.3% in the 4th 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. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NET. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a report on Monday, May 12th. Cowen reissued a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Oppenheimer reissued an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Susquehanna reduced their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Finally, Morgan Stanley lifted their target price on shares of Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three 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, Cloudflare currently has an average rating of "Hold" and a consensus target price of $145.92.

Cloudflare Trading Up 3.0%

Cloudflare stock traded up $5.62 during mid-day trading on Friday, hitting $191.26. The company's stock had a trading volume of 1,848,809 shares, compared to its average volume of 3,162,496. The stock's fifty day moving average is $162.79 and its two-hundred day moving average is $138.22. 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 $66.29 billion, a PE ratio of -831.54 and a beta of 1.85. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $198.01.

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). The business had revenue of $479.09 million for 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 business's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $196.09, for a total value of $1,764,810.00. Following the sale, the insider owned 160,377 shares of the company's stock, valued at $31,448,325.93. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $171.41, for a total value of $4,395,123.81. Following the transaction, the insider owned 6,390 shares in the company, valued at $1,095,309.90. This trade represents a 80.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 530,987 shares of company stock valued at $80,832,794. 10.89% of the stock is currently owned by company insiders.

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.