Harvest Investment Services LLC Invests $387,000 in Cloudflare, Inc. (NYSE:NET)

Harvest Investment Services LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,595 shares of the company's stock, valued at approximately $387,000.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc increased its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after buying an additional 170 shares during the period. GAMMA Investing LLC lifted its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after buying an additional 217 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Cloudflare during the 4th quarter valued at $65,000. Finally, Whittier Trust Co. grew its holdings in shares of Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after acquiring an additional 329 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company's stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders have sold 522,613 shares of company stock worth $67,732,853 over the last three months. Company insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NET shares. UBS Group lowered their target price on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley dropped their price objective on Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and increased their price target for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Cloudflare presently has an average rating of "Hold" and an average price target of $134.84.

Cloudflare Price Performance

NYSE:NET opened at $106.91 on Wednesday. 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 of $125.32 and a 200-day moving average of $114.83. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a market capitalization of $36.89 billion, a price-to-earnings ratio of -485.95 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates 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, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.

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