Baxter Bros Inc. Raises Stake in Cloudflare, Inc. (NYSE:NET)

Baxter Bros Inc. lifted its position in Cloudflare, Inc. (NYSE:NET) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the company’s stock after buying an additional 100 shares during the quarter. Baxter Bros Inc.’s holdings in Cloudflare were worth $296,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NET. Empowered Funds LLC boosted its holdings in Cloudflare by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock valued at $354,000 after purchasing an additional 313 shares during the period. Quest Partners LLC bought a new stake in Cloudflare during the third quarter valued at $54,000. Pathstone Holdings LLC grew its position in Cloudflare by 5.2% during the third quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after buying an additional 1,200 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cloudflare in the 3rd quarter worth about $591,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NET. Oppenheimer began coverage on shares of Cloudflare in a research report on Thursday, March 20th. They issued an “outperform” rating and a $150.00 price objective on the stock. Guggenheim raised their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Stifel Nicolaus increased their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.64.

Cloudflare Stock Performance

Shares of NET opened at $124.22 on Tuesday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a 50-day simple moving average of $137.01 and a two-hundred day simple moving average of $110.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $42.86 billion, a PE ratio of -564.61 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at $1,226,652.76. This represents a 82.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 566,766 shares of company stock valued at $73,779,200 over the last quarter. Corporate insiders own 12.83% of the company’s stock.

About Cloudflare

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.