Jones Financial Companies Lllp Buys 3,126 Shares of Cloudflare, Inc. (NYSE:NET)

Jones Financial Companies Lllp raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 164.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,024 shares of the company's stock after acquiring an additional 3,126 shares during the quarter. Jones Financial Companies Lllp's holdings in Cloudflare were worth $541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NET. Capital Performance Advisors LLP bought a new position in Cloudflare in the 3rd quarter valued at approximately $38,000. Quarry LP increased its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC bought a new position in shares of Cloudflare during the third quarter valued at $54,000. Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after purchasing an additional 217 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 597,406 shares of company stock worth $76,705,729 over the last quarter. 12.83% of the stock is currently owned by company insiders.

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Cloudflare Stock Performance

Shares of NYSE:NET traded up $3.68 during midday trading on Tuesday, reaching $120.29. The company had a trading volume of 5,898,164 shares, compared to its average volume of 2,998,614. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company's 50 day moving average price is $135.96 and its 200 day moving average price is $107.94. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $41.51 billion, a P/E ratio of -546.78 and a beta of 1.27.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Cantor Fitzgerald upped their target price on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Guggenheim lifted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Four 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $136.28.

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.