2,161 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,161 shares of the company's stock, valued at approximately $233,000.

Several other hedge funds have also modified their holdings of NET. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Cloudflare by 16.8% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock valued at $42,602,000 after purchasing an additional 56,906 shares during the last quarter. RFG Advisory LLC boosted its stake in Cloudflare by 11.1% during the fourth quarter. RFG Advisory LLC now owns 9,816 shares of the company's stock worth $1,057,000 after buying an additional 982 shares during the period. Janney Montgomery Scott LLC increased its position in Cloudflare by 19.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 32,153 shares of the company's stock valued at $3,462,000 after acquiring an additional 5,130 shares during the last quarter. Daymark Wealth Partners LLC raised its stake in shares of Cloudflare by 6.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 4,535 shares of the company's stock valued at $488,000 after acquiring an additional 257 shares during the period. Finally, MCF Advisors LLC bought a new stake in shares of Cloudflare in the 4th quarter worth about $123,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Up 0.3 %

Cloudflare stock traded up $0.42 during midday trading on Thursday, reaching $136.86. The stock had a trading volume of 1,278,022 shares, compared to its average volume of 3,029,956. The stock has a market capitalization of $46.97 billion, a PE ratio of -526.25 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $140.25. 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 stock's 50-day simple moving average is $113.05 and its 200 day simple moving average is $93.88.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to analysts' expectations of $423.65 million. Analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cantor Fitzgerald started coverage on Cloudflare in a research report on Friday, January 17th. They issued a "neutral" rating and a $111.00 price objective on the stock. The Goldman Sachs Group raised shares of Cloudflare from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday. Scotiabank raised their target price on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $109.72.

Insider Buying and Selling

In other news, COO Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $21,403,676.25. This represents a 12.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company's stock, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 641,132 shares of company stock worth $69,429,058. 12.83% of the stock is currently owned by corporate insiders.

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.