Cloudflare, Inc. (NYSE:NET) Stake Increased by Ellevest Inc.

Ellevest Inc. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,538 shares of the company’s stock after buying an additional 102 shares during the quarter. Ellevest Inc.’s holdings in Cloudflare were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NET. Larson Financial Group LLC grew its stake in 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 acquiring an additional 517 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Cloudflare by 218.4% during 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Sava Infond d.o.o. purchased a new stake in shares of Cloudflare during the fourth quarter worth $65,000. Finally, Whittier Trust Co. grew its stake in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Up 6.5 %

NYSE:NET opened at $132.42 on Friday. The stock’s fifty day moving average price is $116.02 and its two-hundred day moving average price is $117.55. The company has a market cap of $45.69 billion, a price-to-earnings ratio of -601.91 and a beta of 1.78. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million for 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 business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at $35,270,941.48. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the transaction, the insider now owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This represents a 4.56 % decrease in their ownership of the stock. 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 in the last ninety days. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

NET has been the subject of several research reports. Oppenheimer lifted their price target on Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial increased their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Guggenheim lifted their price objective on shares of Cloudflare from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Friday. Susquehanna raised their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $151.00 price target (up previously from $112.00) on shares of Cloudflare in a research note on Friday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus target price of $142.57.

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.