Foundations Investment Advisors LLC Purchases 2,998 Shares of Cloudflare, Inc. $NET

Foundations Investment Advisors LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 14.3% during the third quarter, Holdings Channel.com reports. The firm owned 23,969 shares of the company’s stock after purchasing an additional 2,998 shares during the period. Foundations Investment Advisors LLC’s holdings in Cloudflare were worth $5,144,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Cloudflare during the 2nd quarter valued at $29,000. ORG Wealth Partners LLC grew its holdings in shares of Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after buying an additional 70 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Cloudflare during the third quarter worth about $31,000. Harbor Investment Advisory LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth about $32,000. Finally, Quaker Wealth Management LLC lifted its position in Cloudflare by 218.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock valued at $33,000 after acquiring an additional 306 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Down 2.3%

Shares of NYSE:NET opened at $180.72 on Friday. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a market capitalization of $63.30 billion, a PE ratio of -602.39, a price-to-earnings-growth ratio of 160.25 and a beta of 1.96. The business has a fifty day moving average price of $194.71 and a two-hundred day moving average price of $205.85. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $562.03 million for the quarter, compared to the consensus estimate of $544.65 million. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on NET shares. JMP Securities set a $270.00 price objective on Cloudflare in a report on Friday, October 31st. KeyCorp upped their price target on Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Oppenheimer assumed coverage on Cloudflare in a research report on Monday, November 10th. They issued an “outperform” rating and a $260.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, DZ Bank upgraded shares of Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price for the company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.48.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $178.37, for a total value of $1,783,700.00. Following the transaction, the chief financial officer directly owned 137,486 shares in the company, valued at $24,523,377.82. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $189.47, for a total transaction of $9,925,196.48. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 634,213 shares of company stock valued at $125,537,644. Company insiders own 10.89% of the company’s stock.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.