J.W. Cole Advisors Inc. Invests $273,000 in Cloudflare, Inc. (NYSE:NET)

J.W. Cole Advisors Inc. purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,290 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds also recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of Cloudflare in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare in the second quarter valued at $29,000. ICA Group Wealth Management LLC bought a new position in shares of Cloudflare in the fourth quarter valued at $38,000. Finally, Versant Capital Management Inc grew its stake in shares of Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after buying an additional 421 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Wolfe Research started coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Piper Sandler raised their price target on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target for the company. Finally, Robert W. Baird raised their price target on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.29.

Cloudflare Stock Down 1.3 %

Shares of NYSE NET opened at $78.09 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The stock has a market capitalization of $26.53 billion, a P/E ratio of -147.34 and a beta of 1.10. The stock’s fifty day moving average is $79.44 and its 200 day moving average is $82.64.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter last year, the business earned ($0.12) earnings per share. Cloudflare’s revenue was up 30.0% on a year-over-year basis. Sell-side analysts forecast that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20. Following the transaction, the chief operating officer now owns 211,394 shares in the company, valued at $18,027,680.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20. Following the transaction, the chief operating officer now owns 211,394 shares in the company, valued at $18,027,680.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $76.55, for a total value of $4,009,995.20. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $823,754.55. The disclosure for this sale can be found here. Insiders have sold a total of 557,062 shares of company stock worth $44,910,811 over the last 90 days. Insiders own 12.83% of the company’s stock.

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.