Birchcreek Wealth Management LLC Purchases Shares of 2,000 Cloudflare, Inc. (NYSE:NET)

Birchcreek Wealth Management LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NET. Creative Planning lifted its holdings in Cloudflare by 17.8% in the third quarter. Creative Planning now owns 31,519 shares of the company's stock valued at $2,550,000 after buying an additional 4,756 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock valued at $80,000 after acquiring an additional 119 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Cloudflare by 12.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company's stock valued at $226,000 after purchasing an additional 303 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Cloudflare by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,918 shares of the company's stock worth $398,000 after purchasing an additional 1,057 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Cloudflare by 0.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 60,181 shares of the company's stock worth $4,868,000 after purchasing an additional 297 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the transaction, the chief executive officer now owns 10,762 shares in the company, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction that occurred on 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 owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 558,918 shares of company stock worth $68,709,509. 12.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NET. The Goldman Sachs Group upped their price target on Cloudflare from $140.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group upped their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. UBS Group upped their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $185.00 price objective on shares of Cloudflare in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $136.28.

Cloudflare Trading Down 2.7 %

Shares of NET traded down $4.04 during mid-day trading on Monday, reaching $147.92. The company's stock had a trading volume of 4,360,842 shares, compared to its average volume of 4,009,400. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The stock has a market cap of $50.76 billion, a PE ratio of -672.35 and a beta of 1.12. The company's fifty day moving average price is $130.77 and its two-hundred day moving average price is $103.96. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly 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, analysts predict that Cloudflare, Inc. will post -0.11 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.