Jefferies Financial Group Inc. Makes New $273,000 Investment in Cloudflare, Inc. (NYSE:NET)

Jefferies Financial Group Inc. bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,539 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its holdings 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 acquiring an additional 517 shares in the last quarter. CoreCap Advisors LLC lifted 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. Sava Infond d.o.o. acquired a new position in shares of Cloudflare during the 4th quarter valued at $65,000. Whittier Trust Co. lifted its holdings in shares of Cloudflare by 120.5% during 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, Murphy & Mullick Capital Management Corp acquired a new position in shares of Cloudflare during the 4th quarter valued at $66,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

NET opened at $157.06 on Friday. The company has a 50-day moving average of $118.38 and a 200-day moving average of $119.92. The company has a market capitalization of $54.20 billion, a P/E ratio of -713.89 and a beta of 1.78. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year 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 released its earnings results 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). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the previous year, the firm posted $0.16 EPS. Cloudflare’s revenue for the quarter was up 26.5% on a year-over-year basis. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 2,311 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $44,545,250.75. This represents a 0.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 597,260 shares of company stock valued at $79,553,032 in the last quarter. Insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NET. CICC Research upgraded shares of Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price on the stock in a report on Monday, May 12th. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley lifted their target price on shares of Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Susquehanna cut their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, May 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $151.00 price objective (up previously from $112.00) on shares of Cloudflare in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.79.

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.