Birchcreek Wealth Management LLC Acquires New Shares in Cloudflare, Inc. (NYSE:NET)

Birchcreek Wealth Management LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Cloudflare in the third quarter valued at about $38,000. Quarry LP grew its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC purchased a new position in Cloudflare in the third quarter valued at about $54,000. Versant Capital Management Inc grew its stake in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake 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 purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 2.9 %

Shares of NYSE:NET opened at $151.83 on Monday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a market capitalization of $52.11 billion, a PE ratio of -690.12 and a beta of 1.12. The business has a 50 day moving average of $130.11 and a two-hundred day moving average of $103.46. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $17,372,001.96. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 558,918 shares of company stock valued at $68,709,509 in the last three months. 12.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Wells Fargo & Company boosted their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. UBS Group boosted their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Susquehanna boosted their price target on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Mizuho boosted their price target on Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare 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.