Cloudflare, Inc. (NYSE:NET) Position Raised by Cetera Investment Advisers

Cetera Investment Advisers increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,203 shares of the company’s stock after purchasing an additional 4,518 shares during the period. Cetera Investment Advisers’ holdings in Cloudflare were worth $8,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares in the last quarter. GAMMA Investing LLC grew its position in 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 last quarter. Whittier Trust Co. grew its position in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after buying an additional 329 shares during the last quarter. Sava Infond d.o.o. acquired a new position in Cloudflare in the fourth quarter worth approximately $65,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Cloudflare in the fourth quarter worth approximately $66,000. Institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 492,492 shares of company stock valued at $63,757,685 in the last quarter. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 6.5%

NET stock opened at $132.42 on Monday. 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, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a fifty day simple moving average of $116.02 and a 200 day simple moving average of $117.96. The firm has a market cap of $45.69 billion, a PE ratio of -601.91 and a beta of 1.78.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of several recent research reports. 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 research report on Friday, February 7th. Needham & Company LLC lifted their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $151.00 price objective (up from $112.00) on shares of Cloudflare in a research report on Friday. JMP Securities lifted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Finally, Truist Financial lifted their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $142.57.

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.