2,000 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Pacific Wealth Strategies Group Inc.

Pacific Wealth Strategies Group Inc. bought a new position in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CVA Family Office LLC lifted its stake in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare in the 3rd quarter worth $38,000. 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 valued at $39,000 after purchasing an additional 133 shares during the last quarter. Versant Capital Management Inc increased its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on NET. Royal Bank of Canada upped their price target on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. Guggenheim increased their price objective on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday. Cantor Fitzgerald increased their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial upped their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $128.48.

Cloudflare Stock Up 17.9 %

NYSE NET opened at $166.88 on Friday. The company’s fifty day moving average is $118.89 and its two-hundred day moving average is $96.85. 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, Inc. has a 52-week low of $66.24 and a 52-week high of $171.38.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock worth $69,632,506 in the last quarter. 12.83% of the stock is owned by corporate insiders.

About Cloudflare

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.