Vestor Capital LLC Takes $5.60 Million Position in Cloudflare, Inc. (NYSE:NET)

Vestor Capital LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 52,033 shares of the company’s stock, valued at approximately $5,603,000.

Several other institutional investors have also recently made changes to their positions in NET. Geode Capital Management LLC increased its stake in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares during the period. Generate Investment Management Ltd purchased a new position in shares of Cloudflare during the fourth quarter valued at $12,946,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Cloudflare during the third quarter valued at $8,535,000. Proficio Capital Partners LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at $100,000. Finally, Berkshire Capital Holdings Inc. grew its stake in Cloudflare by 885,600.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 88,570 shares of the company’s stock valued at $9,537,000 after purchasing an additional 88,560 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NET shares. Guggenheim lifted their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Susquehanna lifted their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. The Goldman Sachs Group cut their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Piper Sandler cut their target price on Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley started coverage on Cloudflare in a research note on Tuesday. They issued an “overweight” rating on the stock. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $131.64.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total value of $6,145,690.88. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $48,501,613.16. This trade represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 566,766 shares of company stock valued at $73,779,200. 12.83% of the stock is owned by company insiders.

Cloudflare Trading Up 0.9 %

Shares of NYSE:NET opened at $118.95 on Friday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a market capitalization of $41.05 billion, a PE ratio of -540.70 and a beta of 1.27. The business has a 50 day moving average of $136.73 and a two-hundred day moving average of $109.79. 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 (NYSE:NET) last announced 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.