Cloudflare, Inc. (NYSE:NET) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lifted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,068 shares of the company's stock after acquiring an additional 3,388 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Cloudflare were worth $976,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NET. Larson Financial Group LLC lifted its stake in Cloudflare by 1,988.5% during the fourth 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. Versant Capital Management Inc lifted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 217 shares during the period. Whittier Trust Co. grew its position in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after acquiring an additional 329 shares in the last quarter. Finally, Sava Infond d.o.o. purchased a new stake in Cloudflare during the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $124.16, for a total transaction of $372,480.00. Following the completion of the transaction, the insider now owns 185,406 shares in the company, valued at approximately $23,020,008.96. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $34,549,491.47. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 509,973 shares of company stock valued at $66,133,783. Insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Cloudflare from $154.00 to $144.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Wednesday, April 16th. Finally, Guggenheim upped their price target on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a report on Friday, February 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Cloudflare has an average rating of "Hold" and a consensus price target of $137.70.

Cloudflare Stock Performance

NET traded up $1.65 during trading on Friday, hitting $124.26. 2,621,223 shares of the stock were exchanged, compared to its average volume of 3,095,161. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The stock has a fifty day moving average price of $117.80 and a two-hundred day moving average price of $116.52. The firm has a market capitalization of $42.88 billion, a P/E ratio of -564.82 and a beta of 1.78.

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