Private Advisory Group LLC Grows Stock Holdings in Cloudflare, Inc. $NET

Private Advisory Group LLC increased its position in Cloudflare, Inc. (NYSE:NET) by 56.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 83,886 shares of the company’s stock after buying an additional 30,406 shares during the period. Cloudflare comprises approximately 1.3% of Private Advisory Group LLC’s holdings, making the stock its 20th largest position. Private Advisory Group LLC’s holdings in Cloudflare were worth $16,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NET. Norges Bank purchased a new position in shares of Cloudflare in the second quarter valued at about $541,462,000. Groupama Asset Managment grew its position in shares of Cloudflare by 82.6% during the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after purchasing an additional 950,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Cloudflare by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after purchasing an additional 821,684 shares during the period. Rakuten Investment Management Inc. bought a new stake in Cloudflare during the 3rd quarter valued at approximately $138,660,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Cloudflare by 96.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after purchasing an additional 639,245 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 23,332 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $190.00, for a total transaction of $4,433,080.00. Following the completion of the transaction, the chief accounting officer owned 56,791 shares in the company, valued at $10,790,290. The trade was a 29.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total value of $3,405,750.00. Following the completion of the sale, the director owned 938,073 shares in the company, valued at approximately $212,989,474.65. The trade was a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 633,094 shares of company stock worth $120,791,722 over the last three months. 10.89% of the stock is currently owned by company insiders.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $203.23 on Monday. The stock has a market cap of $71.53 billion, a price-to-earnings ratio of -700.77 and a beta of 1.98. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50 day moving average price of $190.35 and a 200-day moving average price of $203.13. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. During the same period in the previous year, the firm earned $0.19 earnings per share. Cloudflare’s quarterly revenue was up 33.6% compared to the same quarter last year. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

NET has been the subject of several recent analyst reports. Morgan Stanley set a $245.00 price target on Cloudflare in a research note on Wednesday, February 11th. Truist Financial set a $225.00 price target on shares of Cloudflare in a report on Tuesday, January 20th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a report on Monday, January 26th. Wells Fargo & Company boosted their target price on Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada increased their target price on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus target price of $233.38.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.