SG Americas Securities LLC Has $1.77 Million Position in Cloudflare, Inc. (NYSE:NET)

SG Americas Securities LLC boosted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 62.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,695 shares of the company's stock after acquiring an additional 6,030 shares during the quarter. SG Americas Securities LLC's holdings in Cloudflare were worth $1,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Cloudflare by 13.3% in the 4th quarter. Empowered Funds LLC now owns 4,960 shares of the company's stock worth $534,000 after buying an additional 582 shares in the last quarter. Savant Capital LLC bought a new stake in Cloudflare in the fourth quarter valued at $237,000. Manchester Capital Management LLC raised its stake in Cloudflare by 13.9% during the fourth quarter. Manchester Capital Management LLC now owns 1,123 shares of the company's stock worth $121,000 after acquiring an additional 137 shares in the last quarter. Everhart Financial Group Inc. lifted its holdings in shares of Cloudflare by 4.6% during the fourth quarter. Everhart Financial Group Inc. now owns 4,935 shares of the company's stock valued at $531,000 after acquiring an additional 219 shares during the period. Finally, Palumbo Wealth Management LLC boosted its stake in shares of Cloudflare by 37.2% in the 4th quarter. Palumbo Wealth Management LLC now owns 3,647 shares of the company's stock valued at $393,000 after purchasing an additional 988 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 0.5%

Shares of NYSE:NET opened at $171.69 on Monday. The company has a 50 day moving average price of $139.61 and a two-hundred day moving average price of $130.28. 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 capitalization of $59.51 billion, a PE ratio of -780.40 and a beta of 1.84. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $181.81.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same period in the prior year, the business earned $0.16 EPS. The company's revenue for the quarter was up 26.5% compared to the same quarter last year. 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, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the completion of the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $54,095,091.05. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total value of $6,145,690.88. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $48,501,613.16. This represents a 11.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,601 shares of company stock valued at $87,251,258. 10.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Bank of America upgraded shares of Cloudflare from an "underperform" rating to a "buy" rating and lifted their target price for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Royal Bank of Canada decreased their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. KeyCorp initiated coverage on Cloudflare in a research note on Friday, June 6th. They issued an "overweight" rating and a $210.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.

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