2,172 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, HoldingsChannel reports. The firm bought 2,172 shares of the company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CVA Family Office LLC lifted its holdings in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP raised its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the third quarter worth about $38,000. Quest Partners LLC purchased a new position in shares of Cloudflare in the 3rd quarter worth about $54,000. Finally, Versant Capital Management Inc increased its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Wells Fargo & Company upped their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada upped their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Piper Sandler upped their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, BNP Paribas started coverage on Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $108.92.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total value of $605,000.00. Following the transaction, the director now owns 5,927 shares of the company’s stock, valued at $521,576. The trade was a 53.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 641,132 shares of company stock worth $69,429,058 in the last three months. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

Cloudflare stock opened at $126.58 on Tuesday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $130.65. The stock has a market cap of $43.44 billion, a price-to-earnings ratio of -486.86 and a beta of 1.10. The stock’s 50 day simple moving average is $111.39 and its two-hundred day simple moving average is $93.18. 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 (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

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.