Vestmark Advisory Solutions Inc. Takes Position in Cloudflare, Inc. (NYSE:NET)

Vestmark Advisory Solutions Inc. acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,782 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors have also added to or reduced their stakes in NET. Commonwealth Equity Services LLC grew its stake in shares of Cloudflare by 9.0% during the third quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock worth $3,588,000 after buying an additional 4,685 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Cloudflare by 27.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock worth $990,000 after purchasing an additional 3,337 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Cloudflare in the third quarter valued at about $372,000. Forsta AP Fonden boosted its stake in shares of Cloudflare by 0.7% during the third quarter. Forsta AP Fonden now owns 57,500 shares of the company’s stock valued at $3,625,000 after purchasing an additional 400 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of Cloudflare by 100.0% during the third quarter. Strs Ohio now owns 8,806 shares of the company’s stock worth $555,000 after purchasing an additional 4,403 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares in the company, valued at approximately $25,036,551.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $73.97, for a total value of $1,109,550.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $25,036,551.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 1,036,385 shares of company stock worth $101,055,510 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $74.12 on Wednesday. The firm has a market capitalization of $25.03 billion, a P/E ratio of -139.85 and a beta of 1.15. The firm’s 50-day moving average price is $92.69 and its 200-day moving average price is $83.93. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 1-year low of $44.60 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Equities research analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NET shares. UBS Group dropped their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating for the company in a report on Friday, May 3rd. Robert W. Baird reduced their price objective on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. The Goldman Sachs Group lowered their target price on Cloudflare from $89.00 to $77.00 and set a “sell” rating for the company in a research report on Monday. Morgan Stanley upped their price target on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, KeyCorp lowered their price objective on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $89.48.

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.