Clare Market Investments LLC Invests $702,000 in Cloudflare, Inc. (NYSE:NET)

Clare Market Investments LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,515 shares of the company's stock, valued at approximately $702,000.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Cloudflare during the third quarter valued at approximately $38,000. Quarry LP raised its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC purchased a new position in Cloudflare during the third quarter valued at approximately $54,000. Larson Financial Group LLC raised its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and issued a $185.00 price objective on shares of Cloudflare in a research report on Tuesday, February 18th. DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective for the company. in a research report on Tuesday, February 11th. Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Truist Financial boosted their price objective on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Susquehanna boosted their price objective on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Cloudflare currently has an average rating of "Hold" and an average price target of $136.28.

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Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 597,406 shares of company stock worth $76,705,729 in the last quarter. 12.83% of the stock is owned by company insiders.

Cloudflare Trading Down 0.7 %

Shares of NET stock traded down $0.89 on Wednesday, hitting $119.18. The stock had a trading volume of 6,764,018 shares, compared to its average volume of 3,013,898. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $41.13 billion, a P/E ratio of -541.73 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company's 50 day moving average price is $136.21 and its 200-day moving average price is $108.20.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.