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

Vestor Capital LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, Holdings Channel.com reports. The firm acquired 52,033 shares of the company’s stock, valued at approximately $5,603,000.

Several other large investors have also recently made changes to their positions in NET. Stratos Wealth Partners LTD. boosted its stake in Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Cloudflare by 0.5% in the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NET has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Cloudflare in a research note on Thursday. They issued an “outperform” rating and a $150.00 price target on the stock. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Morgan Stanley initiated coverage on Cloudflare in a research note on Tuesday. They set an “overweight” rating on the stock. Finally, Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $131.64.

Cloudflare Trading Up 0.9 %

NET opened at $118.95 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business’s 50-day simple moving average is $136.73 and its 200-day simple moving average is $109.79.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now owns 293,582 shares in the company, valued at $35,229,840. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is currently owned by insiders.

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.