Commonwealth Equity Services LLC Buys 10,729 Shares of Cloudflare, Inc. (NYSE:NET)

Commonwealth Equity Services LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 57,937 shares of the company's stock after purchasing an additional 10,729 shares during the quarter. Commonwealth Equity Services LLC's holdings in Cloudflare were worth $6,239,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of NET. OneDigital Investment Advisors LLC lifted its holdings in shares of Cloudflare by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock valued at $327,000 after purchasing an additional 137 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Cloudflare by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company's stock valued at $354,000 after buying an additional 313 shares during the period. Quest Partners LLC acquired a new position in Cloudflare in the third quarter worth approximately $54,000. Pathstone Holdings LLC increased its holdings in shares of Cloudflare by 5.2% during the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company's stock valued at $1,950,000 after acquiring an additional 1,200 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cloudflare in the 3rd quarter worth $591,000. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, January 21st. The Goldman Sachs Group decreased their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. UBS Group reduced their price objective on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird restated a "neutral" rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Finally, Mizuho lowered their target price on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and an average target price of $135.64.

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Cloudflare Stock Down 5.0 %

NET traded down $6.36 during mid-day trading on Wednesday, reaching $121.14. 2,558,177 shares of the stock were exchanged, compared to its average volume of 3,042,139. The stock has a market capitalization of $41.80 billion, a PE ratio of -550.62 and a beta of 1.27. 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 company has a 50 day moving average price of $137.31 and a two-hundred day moving average price of $110.92. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 566,766 shares of company stock valued at $73,779,200 in the last ninety days. Company 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.