NewEdge Advisors LLC Purchases 5,352 Shares of Cloudflare, Inc. (NYSE:NET)

NewEdge Advisors LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 121.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,770 shares of the company's stock after buying an additional 5,352 shares during the quarter. NewEdge Advisors LLC's holdings in Cloudflare were worth $1,052,000 at the end of the most recent quarter.

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

Insider Activity at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company's stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold a total of 496,973 shares of company stock valued at $64,559,903 in the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NET stock traded up $2.16 during mid-day trading on Friday, reaching $121.03. 2,594,194 shares of the stock traded hands, compared to its average volume of 3,194,107. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $41.76 billion, a PE ratio of -550.14 and a beta of 1.59. The business has a 50-day moving average of $120.78 and a two-hundred day moving average of $115.67.

Cloudflare (NYSE:NET - Get Free Report) last issued 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, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price target on the stock in a report on Wednesday, April 16th. Robert W. Baird reissued a "neutral" rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Finally, JMP Securities raised their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Cloudflare has an average rating of "Hold" and a consensus target price of $134.84.

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.