Cloudflare, Inc. (NYSE:NET) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 28.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,308 shares of the company’s stock after purchasing an additional 1,390 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cloudflare were worth $679,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC boosted its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the period. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare in the third quarter worth about $38,000. Versant Capital Management Inc boosted its holdings 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 period. Finally, GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NET. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and raised their target price for the stock from $77.00 to $140.00 in a report on Thursday, January 2nd. Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Wells Fargo & Company raised their price target on shares of Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Cantor Fitzgerald began coverage on shares of Cloudflare in a report on Friday. They set a “neutral” rating and a $111.00 price target for the company. Finally, BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $107.00.

Cloudflare Stock Up 2.0 %

NET opened at $117.13 on Tuesday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $121.02. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm’s fifty day moving average price is $108.20 and its two-hundred day moving average price is $91.77. The company has a market capitalization of $40.20 billion, a P/E ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. On average, analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insider Activity

In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,852 shares of company stock worth $55,386,256. Corporate 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.