2,913 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Peterson Wealth Services

Peterson Wealth Services bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,913 shares of the company’s stock, valued at approximately $243,000.

Other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its position in shares of Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after buying an additional 6,068,873 shares in the last quarter. Norges Bank acquired a new position in shares of Cloudflare in the 4th quarter valued at $124,592,000. 1832 Asset Management L.P. lifted its stake in shares of Cloudflare by 315.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after purchasing an additional 1,433,500 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Cloudflare by 215.1% in the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cloudflare by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,358,000 shares of the company’s stock worth $2,795,953,000 after acquiring an additional 548,149 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NYSE NET traded up $0.05 during trading on Thursday, reaching $88.05. The company had a trading volume of 712,103 shares, compared to its average volume of 3,791,612. The company’s fifty day moving average price is $96.93 and its 200-day moving average price is $81.59. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.92% and a negative net margin of 14.19%. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial increased their price objective on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Needham & Company LLC increased their price objective on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. KeyCorp increased their price objective on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Wells Fargo & Company increased their price objective on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised their price target on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.08.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carl Ledbetter sold 66,384 shares of Cloudflare stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $95.29, for a total value of $4,991,671.36. Following the sale, the chief executive officer now directly owns 230,612 shares of the company’s stock, valued at approximately $21,975,017.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,055,903 shares of company stock valued at $102,487,506. 14.80% of the stock is owned by insiders.

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.