Sterling Investment Advisors Ltd. Buys New Position in Cloudflare, Inc. (NYSE:NET)

Sterling Investment Advisors Ltd. purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,018 shares of the company's stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NET. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the 3rd quarter valued at about $38,000. Quarry LP boosted its stake in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after buying an additional 133 shares during the period. Versant Capital Management Inc grew its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC raised its stake in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Cloudflare during the third quarter worth $54,000. 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 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were 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 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 SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 558,918 shares of company stock valued at $68,709,509 in the last 90 days. Corporate insiders own 12.83% of the company's stock.

Cloudflare Stock Down 2.7 %

Shares of NYSE NET opened at $147.92 on Tuesday. The firm has a fifty day simple moving average of $130.77 and a two-hundred day simple moving average of $103.96. The firm has a market capitalization of $50.76 billion, a PE ratio of -672.35 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 12 month low of $66.24 and a 12 month high of $177.37.

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 net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NET. Susquehanna lifted their price target on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Cantor Fitzgerald raised their target price on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JMP Securities lifted 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. Finally, Royal Bank of Canada upped their target price on Cloudflare from $123.00 to $170.00 and gave the company an "outperform" rating in a research report 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. According to data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average price target of $136.28.

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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