Mayflower Financial Advisors LLC Invests $235,000 in Cloudflare, Inc. (NYSE:NET)

Mayflower Financial Advisors LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,182 shares of the company's stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NET. Slow Capital Inc. increased its stake in Cloudflare by 1.5% in the fourth quarter. Slow Capital Inc. now owns 53,389 shares of the company's stock valued at $5,749,000 after purchasing an additional 787 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $1,861,000. KBC Group NV grew its position in shares of Cloudflare by 9.2% in the 4th quarter. KBC Group NV now owns 40,655 shares of the company's stock valued at $4,378,000 after buying an additional 3,418 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in Cloudflare during the 4th quarter worth $249,000. Finally, Blue Trust Inc. lifted its position in Cloudflare by 35.2% in the fourth quarter. Blue Trust Inc. now owns 3,308 shares of the company's stock valued at $356,000 after acquiring an additional 861 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the transaction, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 641,132 shares of company stock valued at $69,429,058 in the last ninety days. Corporate insiders own 12.83% of the company's stock.

Analyst Ratings Changes

NET has been the topic of several research reports. Piper Sandler raised their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Royal Bank of Canada raised their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a research note 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 issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $109.72.

Cloudflare Price Performance

Shares of NET traded up $0.76 during trading hours on Thursday, reaching $137.20. The company had a trading volume of 2,958,859 shares, compared to its average volume of 3,121,038. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $140.25. The firm has a 50 day simple moving average of $113.05 and a 200-day simple moving average of $93.88. The company has a market capitalization of $47.09 billion, a price-to-earnings ratio of -527.70 and a beta of 1.10.

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

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.