4,167 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Menard Financial Group LLC

Menard Financial Group LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,167 shares of the company's stock, valued at approximately $449,000.

Several other institutional investors have also recently made changes to their positions in NET. Crossmark Global Holdings Inc. purchased a new stake in shares of Cloudflare during the 4th quarter valued at $259,000. Janney Montgomery Scott LLC boosted its stake in shares of Cloudflare by 19.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,153 shares of the company's stock valued at $3,462,000 after purchasing an additional 5,130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Cloudflare during the fourth quarter worth about $233,000. Blue Trust Inc. raised its holdings in Cloudflare by 35.2% in the fourth quarter. Blue Trust Inc. now owns 3,308 shares of the company's stock worth $356,000 after buying an additional 861 shares during the last quarter. Finally, Capital Asset Advisory Services LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at approximately $249,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and raised their price target for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Piper Sandler reaffirmed a "neutral" rating and issued a $151.00 price target (up previously from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $141.79.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48. Following the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at approximately $48,150,212.11. This trade represents a 11.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total transaction of $372,480.00. Following the completion of the sale, the insider now directly owns 185,406 shares in the company, valued at approximately $23,020,008.96. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,085 shares of company stock worth $65,312,967. Company insiders own 12.83% of the company's stock.

Cloudflare Stock Up 1.6%

NYSE NET traded up $2.53 during midday trading on Thursday, hitting $164.51. 3,110,376 shares of the company traded hands, compared to its average volume of 3,163,302. The company's 50-day simple moving average is $125.11 and its 200-day simple moving average is $123.51. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $57.02 billion, a PE ratio of -747.77 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same quarter last year, the company earned $0.16 earnings per share. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.