Oxford Wealth Group LLC Purchases Shares of 2,701 Cloudflare, Inc. (NYSE:NET)

Oxford Wealth Group LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,701 shares of the company's stock, valued at approximately $291,000.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment purchased a new stake in shares of Cloudflare in the fourth quarter worth approximately $269,200,000. Norges Bank purchased a new stake in Cloudflare in the 4th quarter valued at $249,544,000. American Century Companies Inc. lifted its stake in Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Invesco Ltd. grew its stake in shares of Cloudflare by 292.5% in the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock worth $116,178,000 after acquiring an additional 804,059 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Cloudflare by 454.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 879,088 shares of the company's stock valued at $94,660,000 after purchasing an additional 720,568 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cloudflare 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 transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the 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 a total of 496,973 shares of company stock worth $64,559,903 over the last ninety days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Price Performance

Shares of NET traded down $1.89 during midday trading on Monday, hitting $119.11. 915,945 shares of the company traded hands, compared to its average volume of 3,185,269. The stock has a 50-day moving average of $120.78 and a 200-day moving average of $115.67. 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 one year low of $66.24 and a one year high of $177.37. The firm has a market cap of $41.10 billion, a P/E ratio of -540.32 and a beta of 1.59.

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

Analyst Upgrades and Downgrades

NET has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Wells Fargo & Company raised their target price on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Robert W. Baird reissued a "neutral" rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Cantor Fitzgerald raised their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare has a consensus rating of "Hold" and an average price target of $134.84.

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.