SlateStone Wealth LLC Buys 121 Shares of Cloudflare, Inc. (NYSE:NET)

SlateStone Wealth LLC lifted its stake in Cloudflare, Inc. (NYSE:NET) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,062 shares of the company’s stock after purchasing an additional 121 shares during the quarter. SlateStone Wealth LLC’s holdings in Cloudflare were worth $330,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Cloudflare in the 3rd quarter worth approximately $54,000. Larson Financial Group LLC boosted its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares in the last quarter. Versant Capital Management Inc lifted its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Cloudflare Trading Up 1.9 %

Shares of NET stock opened at $115.83 on Monday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $39.97 billion, a PE ratio of -526.50 and a beta of 1.27. The stock has a fifty day simple moving average of $136.48 and a two-hundred day simple moving average of $108.95.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 571,766 shares of company stock worth $73,804,307. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the topic of several analyst reports. Susquehanna upped their price objective on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Mizuho lowered their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday. Guggenheim upped their price objective on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.04.

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.