Cloudflare, Inc. (NYSE:NET) is Hartline Investment Corp’s 10th Largest Position

Hartline Investment Corp boosted its position in Cloudflare, Inc. (NYSE:NET) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 244,634 shares of the company’s stock after acquiring an additional 3,995 shares during the period. Cloudflare comprises approximately 3.3% of Hartline Investment Corp’s holdings, making the stock its 10th biggest holding. Hartline Investment Corp owned 0.07% of Cloudflare worth $20,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cloudflare by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock valued at $1,728,448,000 after buying an additional 395,363 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Cloudflare by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company’s stock valued at $109,451,000 after buying an additional 14,984 shares during the period. Northern Trust Corp grew its stake in shares of Cloudflare by 3.1% during the 3rd quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock valued at $109,289,000 after buying an additional 51,345 shares during the period. Deutsche Bank AG grew its stake in shares of Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cloudflare by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock valued at $62,000,000 after buying an additional 11,342 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NET. JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Truist Financial upped their price target on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company upped their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Royal Bank of Canada upped their price target 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. Finally, Needham & Company LLC boosted their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.08.

Cloudflare Price Performance

NET stock traded down $0.20 during midday trading on Wednesday, reaching $87.68. 1,993,044 shares of the company’s stock traded hands, compared to its average volume of 3,765,697. The company has a 50-day simple moving average of $95.72 and a two-hundred day simple moving average of $82.47. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The company has a market cap of $29.61 billion, a price-to-earnings ratio of -161.40 and a beta of 1.12. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. On average, analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 366,465 shares in the company, valued at $40,351,461.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the transaction, the chief executive officer now owns 12,183 shares in the company, valued at approximately $1,152,389.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,036,341 shares of company stock worth $101,013,542. Corporate insiders own 14.80% of the company’s stock.

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.