Full Sail Capital LLC Takes $226,000 Position in Cloudflare, Inc. (NYSE:NET)

Full Sail Capital LLC purchased a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,100 shares of the company's stock, valued at approximately $226,000.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Cloudflare by 218.4% in the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock valued at $60,000 after acquiring an additional 380 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after purchasing an additional 217 shares during the period. Whittier Trust Co. increased its position in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after acquiring an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new stake in Cloudflare in the 4th quarter worth about $65,000. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NET shares. JPMorgan Chase & Co. lifted their target price on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Guggenheim lifted their price objective on shares of Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Morgan Stanley raised their target price on Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Truist Financial boosted their price objective on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $141.79.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at $12,519,384.80. The trade was a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 492,492 shares of company stock valued at $63,757,685 over the last 90 days. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Down 1.0%

NET traded down $1.58 during trading hours on Thursday, reaching $152.91. 1,637,294 shares of the stock traded hands, compared to its average volume of 3,129,755. The firm's fifty day simple moving average is $116.93 and its two-hundred day simple moving average is $118.80. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $52.77 billion, a price-to-earnings ratio of -694.95 and a beta of 1.78. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued 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 the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

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.