Retireful LLC Purchases Shares of 10,929 Cloudflare, Inc. (NYSE:NET)

Retireful LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,929 shares of the company's stock, valued at approximately $1,256,000. Cloudflare comprises 1.2% of Retireful LLC's investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of NET. NBC Securities Inc. bought a new stake in Cloudflare in the first quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the 4th quarter valued at $43,000. Global Financial Private Client LLC lifted its holdings in shares of Cloudflare by 38,100.0% during the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after purchasing an additional 381 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of Cloudflare in the fourth quarter worth about $56,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $156.72, for a total transaction of $4,018,300.80. Following the completion of the sale, the insider now owns 6,390 shares in the company, valued at $1,001,440.80. This represents a 80.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $166.00, for a total value of $498,000.00. Following the completion of the sale, the insider now directly owns 169,377 shares in the company, valued at $28,116,582. This trade represents a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 504,085 shares of company stock worth $65,810,967. 12.83% of the stock is owned by insiders.

Cloudflare Stock Up 1.9%

Shares of NET traded up $3.37 during trading hours on Friday, hitting $179.70. 2,771,374 shares of the company were exchanged, compared to its average volume of 3,129,414. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $62.29 billion, a PE ratio of -816.82 and a beta of 1.78. The firm's 50 day moving average is $131.14 and its 200-day moving average is $126.74. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $181.64.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 16th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and raised their target price for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, UBS Group increased their price objective on Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average target price of $145.92.

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.