Cerity Partners LLC Purchases Shares of 7,801 Cloudflare, Inc. (NYSE:NET)

Cerity Partners LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,801 shares of the company’s stock, valued at approximately $649,000.

Several other hedge funds have also made changes to their positions in the business. Aspiriant LLC lifted its holdings in shares of Cloudflare by 24.7% during the 4th quarter. Aspiriant LLC now owns 15,772 shares of the company’s stock worth $1,313,000 after acquiring an additional 3,119 shares during the period. Executive Wealth Management LLC raised its stake in Cloudflare by 2.0% during the fourth quarter. Executive Wealth Management LLC now owns 23,904 shares of the company’s stock worth $1,990,000 after purchasing an additional 463 shares during the period. Geneos Wealth Management Inc. raised its stake in Cloudflare by 3.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 11,874 shares of the company’s stock worth $989,000 after purchasing an additional 391 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of Cloudflare by 9,700.0% in the 4th quarter. Toth Financial Advisory Corp now owns 4,900 shares of the company’s stock valued at $408,000 after purchasing an additional 4,850 shares during the last quarter. Finally, RFG Advisory LLC grew its stake in shares of Cloudflare by 12.0% during the 4th quarter. RFG Advisory LLC now owns 6,669 shares of the company’s stock valued at $555,000 after buying an additional 712 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NET. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a report on Tuesday, February 13th. Royal Bank of Canada increased their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JMP Securities raised their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Capital One Financial initiated coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective for the company. Finally, Susquehanna raised their target price on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $87.08.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at $40,351,461.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 6,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.08, for a total transaction of $660,480.00. Following the sale, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $23,789,829.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,341 shares of company stock valued at $101,013,542 in the last quarter. Insiders own 14.80% of the company’s stock.

Cloudflare Trading Up 3.7 %

NET opened at $87.86 on Wednesday. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The stock has a market capitalization of $29.67 billion, a PE ratio of -159.74 and a beta of 1.13. The firm’s fifty day moving average price is $95.96 and its 200 day moving average price is $82.29.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. As a group, research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Cloudflare Company 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.