Private Trust Co. NA Boosts Stock Position in Cloudflare, Inc. (NYSE:NET)

Private Trust Co. NA raised its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 16,712.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,345 shares of the company's stock after buying an additional 1,337 shares during the period. Private Trust Co. NA's holdings in Cloudflare were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NET. Groupama Asset Managment acquired a new stake in Cloudflare in the 4th quarter worth about $269,200,000. Norges Bank acquired a new stake in Cloudflare in the 4th quarter worth about $249,544,000. American Century Companies Inc. boosted its holdings in shares of Cloudflare by 82.0% during 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 during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Cloudflare by 856.3% during 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 during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Cloudflare by 292.5% during 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 during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Royal Bank Of Canada lowered their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Guggenheim boosted their target price on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Friday, May 9th. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cloudflare currently has an average rating of "Hold" and a consensus price target of $145.92.

Cloudflare Stock Up 0.1%

Shares of Cloudflare stock traded up $0.21 during trading hours on Tuesday, reaching $193.06. 2,443,624 shares of the company were exchanged, compared to its average volume of 3,766,494. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $198.01. The stock's fifty day moving average is $164.24 and its 200 day moving average is $138.78. 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 firm has a market cap of $66.92 billion, a PE ratio of -839.39 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same period in the prior year, the company posted $0.16 EPS. The firm's revenue was up 26.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $180.76, for a total value of $1,807,600.00. Following the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at $43,662,578. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 478,603 shares of company stock valued at $75,548,296. Insiders own 10.89% of the company's stock.

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.