Mutual Advisors LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Mutual Advisors LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,674 shares of the company's stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. increased its position in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare in the fourth quarter worth $43,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. The Goldman Sachs Group reduced their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Susquehanna cut their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Cowen reissued a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Finally, UBS Group boosted their target price on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $145.92.

Cloudflare Price Performance

NET stock opened at $193.99 on Thursday. The company has a market capitalization of $67.24 billion, a P/E ratio of -843.43 and a beta of 1.85. 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 $198.01. The business has a 50 day simple moving average of $167.12 and a 200-day simple moving average of $139.54.

Cloudflare (NYSE:NET - Get Free Report) last announced 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). The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. 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 business earned $0.16 EPS. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $193.94, for a total value of $2,909,100.00. Following the transaction, the director owned 1,058,073 shares in the company, valued at approximately $205,202,677.62. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 9,000 shares of the 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 completion of the transaction, the insider owned 160,377 shares in the company, valued at $31,448,325.93. This represents a 5.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 476,292 shares of company stock worth $75,299,286 in the last ninety days. Insiders own 10.89% of the company's stock.

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.

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