Cloudflare, Inc. (NYSE:NET) Shares Acquired by Private Advisory Group LLC

Key Points

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Private Advisory Group LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,227 shares of the company's stock after buying an additional 1,881 shares during the quarter. Private Advisory Group LLC's holdings in Cloudflare were worth $4,308,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NET. Mather Group LLC. grew its holdings in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. purchased a new stake in shares of Cloudflare in the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the last quarter. Finally, Global Financial Private Client LLC raised its position in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after buying an additional 381 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NET stock traded down $7.22 during trading hours on Friday, reaching $200.46. 6,447,007 shares of the company's stock were exchanged, compared to its average volume of 3,077,286. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The company's 50 day moving average is $184.49 and its two-hundred day moving average is $149.29. The company has a market cap of $69.48 billion, a P/E ratio of -589.59 and a beta of 1.84. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $211.27.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.59% and a negative net margin of 6.22%. The firm had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. Cloudflare's revenue was up 27.8% compared to the same quarter last year. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. DZ Bank restated a "sell" rating and issued a $170.00 price objective on shares of Cloudflare in a report on Tuesday, July 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Morgan Stanley upped their price target on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday. Finally, JMP Securities boosted their price objective on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Moderate Buy" and a consensus target price of $186.88.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $199.85, for a total transaction of $2,997,750.00. Following the transaction, the director directly owned 1,043,073 shares in the company, valued at approximately $208,458,139.05. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 688,062 shares of company stock valued at $121,498,887. 10.89% of the stock is owned by company insiders.

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.