4,186 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Mission Wealth Management LP

Mission Wealth Management LP acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,186 shares of the company’s stock, valued at approximately $349,000.

A number of other large investors have also bought and sold shares of NET. GAMMA Investing LLC bought a new position in shares of Cloudflare during the 4th quarter worth $39,000. Massmutual Trust Co. FSB ADV increased its stake in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after acquiring an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at about $55,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Cloudflare by 2,422.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. KeyCorp decreased their price objective on Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a report on Friday. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Tuesday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research note on Friday. Sanford C. Bernstein initiated coverage on Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target for the company. Finally, Bank of America boosted their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $90.17.

Cloudflare Trading Down 16.2 %

NYSE:NET opened at $74.52 on Friday. The stock has a 50-day simple moving average of $93.67 and a two-hundred day simple moving average of $83.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total value of $648,266.04. Following the transaction, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Carl Ledbetter sold 7,962 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the sale, the director now owns 1,446,957 shares in the company, valued at approximately $117,811,238.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.64, for a total value of $298,920.00. Following the completion of the sale, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $20,449,914.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,029,347 shares of company stock worth $100,594,226. 12.83% of the stock is currently owned by company insiders.

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.