NTV Asset Management LLC Purchases Shares of 2,000 Cloudflare, Inc. (NYSE:NET)

NTV Asset Management LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the company's stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. J.W. Cole Advisors Inc. increased its position in shares of Cloudflare by 14.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,721 shares of the company's stock worth $401,000 after acquiring an additional 468 shares during the last quarter. Nkcfo LLC bought a new stake in Cloudflare in the fourth quarter valued at about $323,000. Allworth Financial LP increased its holdings in Cloudflare by 8.4% in the fourth quarter. Allworth Financial LP now owns 2,854 shares of the company's stock valued at $307,000 after buying an additional 220 shares during the last quarter. Palumbo Wealth Management LLC increased its holdings in Cloudflare by 37.2% in the fourth quarter. Palumbo Wealth Management LLC now owns 3,647 shares of the company's stock valued at $393,000 after buying an additional 988 shares during the last quarter. Finally, Everhart Financial Group Inc. increased its holdings in Cloudflare by 4.6% in the fourth quarter. Everhart Financial Group Inc. now owns 4,935 shares of the company's stock valued at $531,000 after buying an additional 219 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Down 2.9 %

Shares of Cloudflare stock traded down $4.55 on Friday, hitting $151.83. 3,652,849 shares of the company traded hands, compared to its average volume of 3,999,010. The company has a 50-day moving average price of $130.11 and a 200 day moving average price of $103.08. The company has a quick ratio of 3.37, a current 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 $177.37. The company has a market cap of $52.11 billion, a PE ratio of -690.12 and a beta of 1.12.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results 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%. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In related news, COO Michelle Zatlyn sold 35,118 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $105.30, for a total value of $3,697,925.40. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $18,212,582.70. This represents a 16.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company's stock, valued at $47,580,834.74. This represents a 8.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 533,297 shares of company stock worth $62,604,696 in the last ninety days. Corporate insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NET shares. Royal Bank of Canada boosted their price objective on Cloudflare from $123.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, January 27th. DZ Bank lowered Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective for the company. in a report on Tuesday, February 11th. Piper Sandler boosted their price objective on Cloudflare from $92.00 to $153.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $136.28.

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.