Daymark Wealth Partners LLC Grows Stock Position in Cloudflare, Inc. (NYSE:NET)

Daymark Wealth Partners LLC raised its holdings in Cloudflare, Inc. (NYSE:NET) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,535 shares of the company’s stock after acquiring an additional 257 shares during the period. Daymark Wealth Partners LLC’s holdings in Cloudflare were worth $488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare in the third quarter valued at approximately $25,588,000. International Assets Investment Management LLC purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $147,160,000. Parnassus Investments LLC grew its stake in shares of Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares during the period. Geode Capital Management LLC raised its position in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after acquiring an additional 116,130 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 31,136 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $30,369,566.90. This represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 589,852 shares of company stock valued at $63,169,052. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET opened at $123.89 on Friday. The firm has a fifty day moving average of $109.35 and a 200-day moving average of $92.22. The company has a market cap of $42.52 billion, a price-to-earnings ratio of -476.49 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $124.64.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald began coverage on Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 price objective on the stock. UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $108.32.

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.