Oxford Wealth Group LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Oxford Wealth Group LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,701 shares of the company's stock, valued at approximately $291,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $269,200,000. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth $249,544,000. American Century Companies Inc. lifted its holdings in Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares in the last quarter. Invesco Ltd. grew its position in shares of Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after purchasing an additional 804,059 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Cloudflare by 454.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 879,088 shares of the company's stock worth $94,660,000 after purchasing an additional 720,568 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NET shares. Baird R W cut Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Truist Financial boosted their price target on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Cantor Fitzgerald increased their price objective on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Susquehanna lifted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Guggenheim increased their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a "sell" 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's stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average price target of $134.84.

Cloudflare Price Performance

Cloudflare stock 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 market capitalization of $36.89 billion, a price-to-earnings ratio of -485.95 and a beta of 1.59. The company's 50 day simple moving average is $125.32 and its 200-day simple moving average is $114.83. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released 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 research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total transaction of $5,284,497.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares of the company's stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 522,613 shares of company stock worth $67,732,853 in the last three months. 12.83% of the stock is owned by company insiders.

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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