Cloudflare, Inc. (NYSE:NET) Shares Purchased by LVW Advisors LLC

LVW Advisors LLC increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 14.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,668 shares of the company’s stock after acquiring an additional 839 shares during the quarter. LVW Advisors LLC’s holdings in Cloudflare were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Oak Ridge Investments LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth about $4,913,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth about $213,000. Premier Path Wealth Partners LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth about $217,000. Carnegie Investment Counsel lifted its holdings in shares of Cloudflare by 7.3% during the fourth quarter. Carnegie Investment Counsel now owns 181,093 shares of the company’s stock worth $19,500,000 after purchasing an additional 12,290 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Cloudflare by 28.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company’s stock worth $679,000 after purchasing an additional 1,390 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares in the company, valued at $521,576. This represents a 53.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,852 shares of company stock worth $55,386,256 in the last three months. 12.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Cantor Fitzgerald started coverage on Cloudflare in a report on Friday. They set a “neutral” rating and a $111.00 target price for the company. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $145.00 in a report on Friday. BNP Paribas started coverage on Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company. Wells Fargo & Company boosted their price target on Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.00.

Cloudflare Stock Up 2.0 %

Shares of NET opened at $117.13 on Monday. 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, Inc. has a one year low of $66.24 and a one year high of $121.02. The stock has a market capitalization of $40.20 billion, a price-to-earnings ratio of -450.49 and a beta of 1.10. The stock has a 50 day moving average price of $107.72 and a 200 day moving average price of $91.54.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Cloudflare Company 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.