Cloudflare, Inc. $NET Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 16.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,762 shares of the company’s stock after acquiring an additional 2,846 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Cloudflare were worth $4,241,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. raised its stake in shares of Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after acquiring an additional 104 shares during the period. Westside Investment Management Inc. boosted its position in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares during the period. ORG Wealth Partners LLC boosted its position in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Cloudflare in the 2nd quarter valued at approximately $29,000. Finally, Harbor Investment Advisory LLC acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $32,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the completion of the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $6,467,578.46. The trade was a 50.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 41,557 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the sale, the chief financial officer owned 85,452 shares in the company, valued at $15,812,038.08. The trade was a 32.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 526,210 shares of company stock worth $97,324,213. 10.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NET shares. Robert W. Baird set a $260.00 price target on Cloudflare and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Needham & Company LLC dropped their price objective on Cloudflare from $285.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Zacks Research downgraded Cloudflare from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Scotiabank decreased their target price on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $233.38.

Cloudflare Stock Up 0.2%

Shares of NYSE NET opened at $212.46 on Friday. The stock has a market cap of $74.42 billion, a P/E ratio of -732.59 and a beta of 1.98. The business’s fifty day simple moving average is $185.42 and its 200-day simple moving average is $202.99. Cloudflare, Inc. has a 12-month low of $89.42 and a 12-month high of $260.00. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last released its earnings results 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 return on equity of 7.24% and a negative net margin of 4.72%.The firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the previous year, the firm posted $0.19 EPS. Cloudflare’s revenue for the quarter was up 33.6% on a year-over-year basis. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.