3,000 Shares in Cloudflare, Inc. $NET Acquired by Pacific Point Advisors LLC

Pacific Point Advisors LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the company’s stock, valued at approximately $591,000.

Several other institutional investors have also made changes to their positions in the stock. Stock Yards Bank & Trust Co. boosted its holdings in shares of Cloudflare by 24.4% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,664 shares of the company’s stock worth $328,000 after purchasing an additional 326 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Cloudflare by 23.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 24,364 shares of the company’s stock worth $4,803,000 after purchasing an additional 4,602 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Cloudflare by 440.3% during the fourth quarter. Sound Income Strategies LLC now owns 362 shares of the company’s stock worth $67,000 after purchasing an additional 295 shares during the period. Sowell Financial Services LLC boosted its holdings in shares of Cloudflare by 11.0% during the fourth quarter. Sowell Financial Services LLC now owns 7,860 shares of the company’s stock worth $1,550,000 after purchasing an additional 782 shares during the period. Finally, RPG Investment Advisory LLC boosted its holdings in shares of Cloudflare by 1.0% during the fourth quarter. RPG Investment Advisory LLC now owns 94,024 shares of the company’s stock worth $18,537,000 after purchasing an additional 888 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NET opened at $215.98 on Wednesday. The firm has a market cap of $76.02 billion, a PE ratio of -744.74 and a beta of 1.87. The firm’s 50 day moving average price is $194.03 and its 200 day moving average price is $202.43. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a twelve month low of $95.79 and a twelve month high of $260.00.

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

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 13,618 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $227.80, for a total value of $3,102,180.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total transaction of $3,405,750.00. Following the completion of the sale, the director owned 938,073 shares of the company’s stock, valued at $212,989,474.65. The trade was a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 571,863 shares of company stock valued at $108,830,667 in the last three months. Company insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NET shares. Morgan Stanley set a $245.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on shares of Cloudflare in a research report on Tuesday, January 20th. TD Cowen reaffirmed a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Piper Sandler raised their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Finally, UBS Group reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average price target of $233.38.

About Cloudflare

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.