Cloudflare, Inc. $NET Position Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in Cloudflare, Inc. (NYSE:NET) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,933 shares of the company’s stock after buying an additional 3,658 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cloudflare were worth $5,113,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Reliant Investment Partners LLC raised its holdings in shares of Cloudflare by 1.5% during the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock valued at $718,000 after acquiring an additional 50 shares during the period. Frank Rimerman Advisors LLC grew its position in Cloudflare by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock worth $605,000 after purchasing an additional 51 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Cloudflare by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock worth $34,000 after purchasing an additional 56 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in Cloudflare by 5.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company’s stock valued at $218,000 after purchasing an additional 57 shares during the period. Finally, Bogart Wealth LLC raised its stake in Cloudflare by 28.0% during the 3rd quarter. Bogart Wealth LLC now owns 270 shares of the company’s stock valued at $58,000 after purchasing an additional 59 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

Shares of NET opened at $211.30 on Friday. The company’s fifty day moving average is $192.63 and its 200-day moving average is $202.89. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The firm has a market cap of $74.37 billion, a price-to-earnings ratio of -728.58 and a beta of 1.87. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. Cloudflare’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark J. Hawkins sold 133 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $209.60, for a total transaction of $27,876.80. Following the completion of the sale, the director owned 10,322 shares in the company, valued at approximately $2,163,491.20. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $227.05, for a total value of $3,405,750.00. Following the transaction, the director directly owned 938,073 shares in the company, valued at approximately $212,989,474.65. This represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 632,901 shares of company stock valued at $120,754,306. 10.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NET. Piper Sandler raised their target price on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Morgan Stanley set a $245.00 price target on Cloudflare in a research report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on Cloudflare in a research note on Tuesday, January 20th. BTIG Research raised their price objective on Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Guggenheim upped their target price on Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.