LPL Financial LLC Has $13.16 Million Holdings in Cloudflare, Inc. (NYSE:NET)

LPL Financial LLC grew its stake in Cloudflare, Inc. (NYSE:NET) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,171 shares of the company’s stock after acquiring an additional 3,989 shares during the period. LPL Financial LLC’s holdings in Cloudflare were worth $13,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NET. Mosley Wealth Management acquired a new position in shares of Cloudflare during the fourth quarter valued at $206,000. Fox Run Management L.L.C. lifted its position in Cloudflare by 9.6% during the 4th quarter. Fox Run Management L.L.C. now owns 20,529 shares of the company’s stock valued at $2,211,000 after purchasing an additional 1,798 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Cloudflare in the 4th quarter valued at about $11,834,000. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $825,000. Finally, Sei Investments Co. raised its stake in shares of Cloudflare by 19.1% during the fourth quarter. Sei Investments Co. now owns 219,090 shares of the company’s stock worth $23,592,000 after buying an additional 35,198 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

NYSE NET opened at $119.85 on Thursday. The firm’s 50 day moving average is $137.24 and its 200-day moving average is $112.34. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $41.36 billion, a PE ratio of -544.77 and a beta of 1.27. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on NET shares. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. JMP Securities raised their price target on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. UBS Group dropped their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company raised their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group decreased their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $135.64.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 627,046 shares of company stock worth $81,158,262. Corporate insiders own 12.83% of the company’s stock.

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.