Strategic Planning Group LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET – Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,641 shares of the company’s stock after buying an additional 907 shares during the quarter. Cloudflare accounts for approximately 1.0% of Strategic Planning Group LLC’s investment portfolio, making the stock its 29th largest position. Strategic Planning Group LLC’s holdings in Cloudflare were worth $5,345,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. CVA Family Office LLC grew its position in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP grew its stake in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the 3rd quarter valued at $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the 3rd quarter worth $54,000. Finally, Versant Capital Management Inc increased its stake in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.
Insider Activity
In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 641,132 shares of company stock valued at $69,429,058. 12.83% of the stock is currently owned by company insiders.
Cloudflare Price Performance
Cloudflare (NYSE:NET – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on NET shares. Scotiabank increased their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. UBS Group boosted their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald started coverage on shares of Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 price target on the stock. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.72.
View Our Latest Stock Analysis on NET
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.
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