51,178 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,178 shares of the company’s stock, valued at approximately $4,956,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after purchasing an additional 740,914 shares in the last quarter. Capital World Investors raised its stake in Cloudflare by 1.8% in the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after purchasing an additional 487,308 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Cloudflare by 121.2% in the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after acquiring an additional 1,597,900 shares during the period. Norges Bank acquired a new position in Cloudflare in the 4th quarter valued at $221,858,000. Finally, Northern Trust Corp lifted its stake in shares of Cloudflare by 3.1% during the 3rd quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after purchasing an additional 51,345 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 9,993 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $100.16, for a total value of $1,000,898.88. Following the transaction, the director now owns 1,275,004 shares of the company’s stock, valued at approximately $127,704,400.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $97.16, for a total value of $291,480.00. Following the completion of the transaction, the insider now directly owns 205,238 shares of the company’s stock, valued at $19,940,924.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Ledbetter sold 9,993 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $100.16, for a total value of $1,000,898.88. Following the completion of the sale, the director now owns 1,275,004 shares in the company, valued at approximately $127,704,400.64. The disclosure for this sale can be found here. Insiders sold a total of 702,759 shares of company stock worth $57,278,985 in the last quarter. 12.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on NET shares. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $82.00 in a report on Tuesday. KeyCorp dropped their target price on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Citigroup dropped their price objective on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of Cloudflare in a report on Tuesday, May 14th. Finally, Oppenheimer cut their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $90.96.

Cloudflare Trading Up 0.8 %

Cloudflare stock opened at $78.60 on Tuesday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average price of $77.40 and a two-hundred day moving average price of $85.37. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The stock has a market cap of $26.71 billion, a price-to-earnings ratio of -148.30 and a beta of 1.08.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $372.93 million. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.19 EPS for the current year.

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.