Deane Retirement Strategies Inc. Takes $2.54 Million Position in Cloudflare, Inc. (NYSE:NET)

Deane Retirement Strategies Inc. bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 23,623 shares of the company’s stock, valued at approximately $2,544,000.

Several other hedge funds have also bought and sold shares of NET. Dimensional Fund Advisors LP raised its stake in Cloudflare by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 326,853 shares of the company’s stock valued at $27,070,000 after buying an additional 1,460 shares during the period. AXA S.A. bought a new stake in Cloudflare in the 2nd quarter valued at $625,000. Driehaus Capital Management LLC acquired a new stake in Cloudflare during the 2nd quarter valued at $522,000. Creative Planning boosted its position in Cloudflare by 9.2% during the second quarter. Creative Planning now owns 26,763 shares of the company’s stock worth $2,217,000 after purchasing an additional 2,255 shares during the period. Finally, Quarry LP increased its holdings in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at $24,422,966.37. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’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 transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 641,132 shares of company stock worth $69,429,058. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $140.00 in a report on Thursday, January 2nd. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $136.00 in a report on Tuesday, December 17th. Piper Sandler boosted their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, UBS Group increased their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $109.72.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $139.54 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s 50 day moving average is $112.25 and its 200 day moving average is $93.58. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $140.25.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million during 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%. Sell-side analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Cloudflare Company 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.