Cloudflare, Inc. (NYSE:NET) Holdings Lifted by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 62.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,537 shares of the company's stock after purchasing an additional 1,355 shares during the quarter. Mayflower Financial Advisors LLC's holdings in Cloudflare were worth $399,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors lifted its holdings in Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Geode Capital Management LLC increased its position in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after buying an additional 68,661 shares during the period. Groupama Asset Managment bought a new position in Cloudflare during the 4th quarter worth $269,200,000. Norges Bank bought a new position in Cloudflare during the 4th quarter worth $249,544,000. Finally, American Century Companies Inc. increased its position in Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after buying an additional 1,017,399 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $193.94, for a total value of $2,909,100.00. Following the completion of the sale, the director directly owned 1,058,073 shares of the company's stock, valued at approximately $205,202,677.62. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $180.76, for a total transaction of $1,807,600.00. Following the completion of the sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $43,662,578. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 581,062 shares of company stock worth $99,070,153. 10.89% of the stock is currently owned by company insiders.

Cloudflare Price Performance

NET stock traded up $0.46 during trading on Monday, hitting $197.81. The stock had a trading volume of 3,623,450 shares, compared to its average volume of 3,183,962. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $200.69. The company's 50-day moving average price is $175.86 and its two-hundred day moving average price is $143.68.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same period in the previous year, the business posted $0.16 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NET. Wells Fargo & Company lifted their price target on Cloudflare from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Monday. 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. Piper Sandler reissued a "neutral" rating and set a $151.00 price target (up from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Jefferies Financial Group cut their price target on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Finally, Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and lifted their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.32.

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.