Harvest Investment Services LLC Buys New Stake in Cloudflare, Inc. (NYSE:NET)

Harvest Investment Services LLC bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,595 shares of the company's stock, valued at approximately $387,000.

A number of other large investors have also made changes to their positions in NET. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after buying an additional 217 shares in the last quarter. Whittier Trust Co. increased its stake in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after buying an additional 329 shares in the last quarter. Finally, Sava Infond d.o.o. purchased a new position in shares of Cloudflare in the fourth quarter valued at about $65,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Price Performance

Shares of NYSE:NET traded down $2.45 during midday trading on Monday, hitting $118.56. The company had a trading volume of 760,015 shares, compared to its average volume of 3,184,643. The business's 50-day simple moving average is $120.78 and its 200-day simple moving average is $115.67. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of -538.26 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

NET has been the subject of a number of research analyst reports. Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a report on Friday, February 7th. Oppenheimer started coverage on shares of Cloudflare in a report on Thursday, March 20th. They issued an "outperform" rating and a $150.00 target price for the company. DZ Bank downgraded Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Truist Financial boosted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Finally, Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price target for the company in a report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $134.84.

Insider Activity at Cloudflare

In related news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders sold 496,973 shares of company stock worth $64,559,903 in the last three months. 12.83% 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.