Pacific Wealth Strategies Group Inc. Buys New Stake in Cloudflare, Inc. (NYSE:NET)

Pacific Wealth Strategies Group Inc. acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,000 shares of the company's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Stratos Wealth Partners LTD. grew its position in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock worth $319,000 after acquiring an additional 94 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after buying an additional 105 shares during the last quarter. Wealth Management Partners LLC lifted its holdings in Cloudflare by 3.3% in the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company's stock worth $382,000 after purchasing an additional 114 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock worth $80,000 after purchasing an additional 119 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NET shares. Cantor Fitzgerald boosted their price objective on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Scotiabank increased their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, JMP Securities raised their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $135.28.

Cloudflare Stock Up 0.1 %

Shares of Cloudflare stock traded up $0.23 during trading on Wednesday, hitting $172.78. 3,193,030 shares of the stock traded hands, compared to its average volume of 3,910,924. The firm has a market cap of $59.30 billion, a P/E ratio of -785.36 and a beta of 1.12. 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 52-week low of $66.24 and a 52-week high of $176.73. The stock's fifty day simple moving average is $122.83 and its 200 day simple moving average is $98.96.

Cloudflare (NYSE:NET - Get Free Report) last released its 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%. On average, equities analysts predict that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value 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 approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares of the company's stock, valued at approximately $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 581,354 shares of company stock worth $64,625,120 over the last three months. 12.83% of the stock is currently owned by corporate insiders.

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.