Foundations Investment Advisors LLC Makes New $1.86 Million Investment in Cloudflare, Inc. (NYSE:NET)

Foundations Investment Advisors LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,285 shares of the company’s stock, valued at approximately $1,861,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Atomi Financial Group Inc. raised its stake in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the last quarter. Wealth Management Partners LLC increased its holdings in shares of Cloudflare by 3.3% in the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock valued at $382,000 after purchasing an additional 114 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Finally, OneDigital Investment Advisors LLC grew its position in Cloudflare by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $21,403,676.25. This trade represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $24,422,966.37. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 641,132 shares of company stock valued at $69,429,058. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NET shares. Royal Bank of Canada raised their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald initiated coverage on shares of Cloudflare in a research report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price objective for the company. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Wells Fargo & Company raised their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday. Finally, Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.72.

Cloudflare Stock Up 10.3 %

Shares of NYSE:NET 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 company has a market capitalization of $47.89 billion, a P/E ratio of -536.69 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $140.25. The stock’s fifty day simple moving average is $112.25 and its 200-day simple moving average is $93.58.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities research analysts forecast 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.