Proficio Capital Partners LLC Buys New Position in Cloudflare, Inc. (NYSE:NET)

Proficio Capital Partners LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100,358 shares of the company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP grew its stake in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Quest Partners LLC bought a new position in Cloudflare during the 3rd quarter valued at $54,000. Finally, Financial Life Planners acquired a new position in Cloudflare during the 4th quarter worth $81,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cantor Fitzgerald lifted their price target on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. JMP Securities boosted their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Susquehanna boosted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada decreased their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $130.92.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,099 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,766 shares of company stock valued at $73,804,307. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 5.0 %

NYSE NET opened at $113.38 on Friday. The firm’s 50 day moving average price is $136.44 and its two-hundred day moving average price is $108.28. 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 twelve month low of $66.24 and a twelve month high of $177.37. The stock has a market cap of $39.12 billion, a price-to-earnings ratio of -515.35 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly 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%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.