FineMark National Bank & Trust Takes $220,000 Position in Cloudflare, Inc. (NYSE:NET)

FineMark National Bank & Trust purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,041 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NET. Quarry LP grew its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC purchased a new stake in Cloudflare in the 3rd quarter valued at about $54,000. Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 valued at $63,000 after acquiring an additional 217 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NET. Needham & Company LLC dropped their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Truist Financial boosted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group decreased their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. boosted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $135.64.

Cloudflare Price Performance

Shares of NYSE NET opened at $121.14 on Thursday. The stock’s 50-day simple moving average is $137.31 and its two-hundred day simple moving average is $110.92. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The firm has a market capitalization of $41.80 billion, a P/E ratio of -550.62 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at $1,226,652.76. This trade represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 33,864 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $30,192,558.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 566,766 shares of company stock valued at $73,779,200. 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.