Bradley Foster & Sargent Inc. CT Buys New Shares in Cloudflare, Inc. (NYSE:NET)

Bradley Foster & Sargent Inc. CT bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,000 shares of the company’s stock, valued at approximately $1,292,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NET. Handelsbanken Fonder AB increased its position in Cloudflare by 1.2% during the fourth quarter. Handelsbanken Fonder AB now owns 185,416 shares of the company’s stock worth $19,966,000 after buying an additional 2,204 shares during the last quarter. Lyell Wealth Management LP increased its position in Cloudflare by 18.1% during the fourth quarter. Lyell Wealth Management LP now owns 47,558 shares of the company’s stock worth $5,121,000 after buying an additional 7,291 shares during the last quarter. Peregrine Capital Management LLC increased its position in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Cloudflare by 26.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,502 shares of the company’s stock worth $808,000 after buying an additional 1,559 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its position in Cloudflare by 11,203.2% during the fourth quarter. Fortis Group Advisors LLC now owns 17,520 shares of the company’s stock worth $1,887,000 after buying an additional 17,365 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 2.9 %

Shares of NYSE:NET opened at $151.83 on Friday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a fifty day moving average of $130.11 and a 200 day moving average of $103.27. The firm has a market capitalization of $52.11 billion, a PE ratio of -690.12 and a beta of 1.12. 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 announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $17,372,001.96. The trade was a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. The trade was a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 594,036 shares of company stock worth $72,407,434. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Guggenheim raised their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Scotiabank boosted their target price on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Royal Bank of Canada increased their target price on Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Susquehanna lifted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $136.28.

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.