Ellevest Inc. Acquires 102 Shares of Cloudflare, Inc. (NYSE:NET)

Ellevest Inc. increased its holdings in Cloudflare, Inc. (NYSE:NET) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,538 shares of the company’s stock after buying an additional 102 shares during the period. Ellevest Inc.’s holdings in Cloudflare were worth $489,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Hartline Investment Corp lifted its position in shares of Cloudflare by 1.5% during the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after acquiring an additional 3,957 shares during the period. Birchcreek Wealth Management LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at approximately $215,000. Strategic Blueprint LLC bought a new position in Cloudflare in the fourth quarter valued at approximately $265,000. Clarendon Private LLC acquired a new position in Cloudflare during the fourth quarter valued at approximately $293,000. Finally, Savant Capital LLC bought a new stake in Cloudflare during the fourth quarter worth $237,000. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $59,279,290.07. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 492,492 shares of company stock valued at $63,757,685. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 6.5 %

Shares of NYSE NET opened at $132.42 on Friday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $45.69 billion, a PE ratio of -601.91 and a beta of 1.78. The company’s fifty day simple moving average is $116.02 and its 200 day simple moving average is $117.55. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho raised Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Wednesday, April 16th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and raised their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Morgan Stanley upped their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Finally, Guggenheim upped their price target on shares of Cloudflare from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $142.57.

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.