1,674 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Mutual Advisors LLC

Mutual Advisors LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,674 shares of the company's stock, valued at approximately $203,000.

Several other large investors also recently added to or reduced their stakes in the business. Groupama Asset Managment purchased a new position in Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank bought a new stake in Cloudflare during the 4th quarter valued at approximately $249,544,000. American Century Companies Inc. boosted its position in shares of Cloudflare by 82.0% in the 4th 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 in the last quarter. Fred Alger Management LLC boosted its position in shares of Cloudflare by 856.3% in the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after purchasing an additional 836,591 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Cloudflare by 292.5% in the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock worth $116,178,000 after purchasing an additional 804,059 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NET shares. Needham & Company LLC boosted their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Jefferies Financial Group dropped their target price on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group dropped their price objective on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a report on Friday, March 14th. Bank of America upgraded shares of Cloudflare from an "underperform" rating to a "buy" rating and upped their target price for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Finally, Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $148.92.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 41,556 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer owned 241,550 shares in the company, valued at approximately $37,870,209. This trade represents a 14.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the completion of the sale, the chief executive officer owned 10,426 shares of the company's stock, valued at $1,591,841.68. This trade represents a 83.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 581,060 shares of company stock valued at $95,040,197. Insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Cloudflare stock traded up $2.64 during midday trading on Friday, hitting $184.56. 1,114,366 shares of the company's stock were exchanged, compared to its average volume of 3,150,740. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $198.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. The stock has a market cap of $63.97 billion, a price-to-earnings ratio of -803.15 and a beta of 1.85. The firm's 50 day simple moving average is $168.30 and its 200 day simple moving average is $140.02.

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 business 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 earnings per share. The company's revenue for the quarter was up 26.5% on a year-over-year basis. Equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS 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.