Brookstone Capital Management Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

Brookstone Capital Management acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,826 shares of the company's stock, valued at approximately $304,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Market Strategies LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth $647,000. Nordea Investment Management AB grew its position in Cloudflare by 0.7% during the fourth quarter. Nordea Investment Management AB now owns 39,776 shares of the company's stock worth $4,307,000 after buying an additional 261 shares during the period. Everence Capital Management Inc. purchased a new position in Cloudflare in the fourth quarter valued at about $803,000. GAMMA Investing LLC increased its holdings in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after buying an additional 217 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They set an "underperform" rating and a $65.00 price objective for the company. UBS Group upped their price objective on Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of Cloudflare from $99.00 to $123.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley upgraded Cloudflare from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $107.00.

Cloudflare Stock Up 2.0 %

Shares of NYSE:NET traded up $2.31 during mid-day trading on Friday, hitting $117.13. 3,539,472 shares of the company traded hands, compared to its average volume of 2,179,924. 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 52-week low of $66.24 and a 52-week high of $121.02. The firm's 50 day simple moving average is $107.72 and its 200 day simple moving average is $91.49. The firm has a market cap of $40.20 billion, a P/E ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insider Activity at Cloudflare

In other news, Director Maria S. Eitel sold 6,875 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.00, for a total transaction of $605,000.00. Following the completion of the transaction, the director now directly owns 5,927 shares of the company's stock, valued at approximately $521,576. This represents a 53.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares of the company's stock, valued at approximately $24,422,966.37. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,852 shares of company stock valued at $55,386,256 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

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.