Capital Market Strategies LLC Makes New $647,000 Investment in Cloudflare, Inc. (NYSE:NET)

Capital Market Strategies LLC bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,011 shares of the company's stock, valued at approximately $647,000.

A number of other hedge funds have also added to or reduced their stakes in NET. CVA Family Office LLC raised its position in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP raised its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after purchasing an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new position in Cloudflare during the third quarter valued at $38,000. Versant Capital Management Inc lifted 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 purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NET. Wells Fargo & Company lifted their price objective on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a report on Friday. BNP Paribas assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective on the stock. Finally, Scotiabank increased their target price on Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and a consensus price target of $101.37.

Insider Transactions at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.60, for a total value of $2,117,864.00. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,873,820.20. This trade represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 565,492 shares of company stock valued at $56,623,190. Corporate insiders own 12.83% of the company's stock.

Cloudflare Trading Down 0.6 %

NET traded down $0.73 during trading on Monday, hitting $114.00. 2,422,628 shares of the stock were exchanged, compared to its average volume of 3,185,075. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a 50 day simple moving average of $103.34 and a 200 day simple moving average of $89.48. The firm has a market cap of $39.12 billion, a price-to-earnings ratio of -438.46 and a beta of 1.10.

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

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.