Mayflower Financial Advisors LLC Grows Stock Position in Cloudflare, Inc. (NYSE:NET)

Mayflower Financial Advisors LLC boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 62.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,537 shares of the company's stock after purchasing an additional 1,355 shares during the period. Mayflower Financial Advisors LLC's holdings in Cloudflare were worth $399,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Mather Group LLC. increased its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. purchased a new position in Cloudflare in the first quarter valued at about $27,000. GPS Wealth Strategies Group LLC increased its stake in shares of 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 purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after buying an additional 142 shares during the period. Finally, Global Financial Private Client LLC increased its holdings in Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after acquiring an additional 381 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NET shares. Needham & Company LLC increased their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley restated an "overweight" rating and issued a $225.00 price objective (up from $150.00) on shares of Cloudflare in a research report on Friday, July 11th. Mizuho lifted their price target on Cloudflare from $155.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and raised their price objective for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Finally, Susquehanna lowered their price target on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.32.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $190.68, for a total transaction of $4,889,225.88. Following the completion of the sale, the insider owned 6,390 shares of the company's stock, valued at $1,218,445.20. This trade represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $196.09, for a total value of $1,764,810.00. Following the completion of the transaction, the insider directly owned 160,377 shares in the company, valued at $31,448,325.93. This trade represents a 5.31% 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 ninety days. 10.89% of the stock is currently owned by company insiders.

Cloudflare Stock Up 2.9%

NET traded up $5.52 during trading on Friday, reaching $196.77. The stock had a trading volume of 4,214,067 shares, compared to its average volume of 3,178,811. The stock's 50 day moving average is $175.86 and its two-hundred day moving average is $143.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. Cloudflare, Inc. has a one year low of $69.26 and a one year high of $198.01.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results 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 net margin of 4.62% and a negative return on equity of 6.31%. The business 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 posted $0.16 earnings per share. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

About Cloudflare

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.