2,100 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Full Sail Capital LLC

Full Sail Capital LLC purchased a new position in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,100 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Cloudflare by 218.4% during the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock worth $60,000 after buying an additional 380 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after acquiring an additional 329 shares in the last quarter. Finally, Sava Infond d.o.o. purchased a new position in shares of Cloudflare in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NET. Morgan Stanley raised their price objective on Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a report on Tuesday, February 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $151.00 target price (up from $112.00) on shares of Cloudflare in a report on Friday. Oppenheimer boosted their price target on Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $142.57.

Cloudflare Stock Up 6.5 %

Shares of NYSE NET opened at $132.42 on Friday. The firm has a market cap of $45.69 billion, a P/E ratio of -601.91 and a beta of 1.78. 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 1 year low of $66.24 and a 1 year high of $177.37. The firm’s 50 day moving average price is $116.02 and its 200 day moving average price is $117.55.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Cloudflare’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total value of $4,640,874.45. Following the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $47,580,834.74. The trade was a 8.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 492,492 shares of company stock worth $63,757,685 in the last 90 days. 12.83% of the stock is owned by company insiders.

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.