53,000 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Archon Partners LLC

Archon Partners LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 53,000 shares of the company’s stock, valued at approximately $5,707,000.

Several other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC lifted its holdings in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after buying an additional 58 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the last quarter. Baxter Bros Inc. boosted its position in shares of Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after acquiring an additional 100 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after buying an additional 105 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Down 5.2 %

Shares of NET stock opened at $102.27 on Tuesday. The stock has a 50 day simple moving average of $125.32 and a two-hundred day simple moving average of $114.83. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a market cap of $35.29 billion, a P/E ratio of -464.86 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on NET. JMP Securities raised their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Guggenheim lifted their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Scotiabank boosted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Mizuho raised shares of Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 16th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $134.84.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 2,311 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the transaction, the chief executive officer now owns 413,413 shares in the company, valued at approximately $44,545,250.75. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 548,253 shares of company stock valued at $70,819,909. Corporate insiders own 12.83% of the company’s stock.

Cloudflare 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.