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

Baxter Bros Inc. lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,750 shares of the company’s stock after acquiring an additional 100 shares during the period. Baxter Bros Inc.’s holdings in Cloudflare were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NET. Stratos Wealth Partners LTD. lifted its position in shares of Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. increased its stake in shares of Cloudflare by 0.5% in the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after purchasing an additional 106 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Cloudflare by 0.5% during the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now 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. Over the last ninety days, insiders have sold 566,766 shares of company stock worth $73,779,200. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of analyst reports. UBS Group cut their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Scotiabank boosted their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Robert W. Baird reissued a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Truist Financial raised their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four equities 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.64.

Cloudflare Trading Up 4.2 %

Shares of NET opened at $124.22 on Tuesday. The company has a 50-day moving average of $137.01 and a 200 day 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. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27.

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