Cloudflare, Inc. (NYSE:NET) is Hartline Investment Corp’s 9th Largest Position

Hartline Investment Corp increased its position in Cloudflare, Inc. (NYSE:NET) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,336 shares of the company’s stock after buying an additional 3,957 shares during the quarter. Cloudflare accounts for approximately 3.3% of Hartline Investment Corp’s holdings, making the stock its 9th biggest holding. Hartline Investment Corp owned about 0.08% of Cloudflare worth $28,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NET. Stratos Wealth Partners LTD. increased its position in shares of Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after acquiring an additional 77 shares during the period. Atomi Financial Group Inc. raised its position in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after buying an additional 105 shares during the period. Wealth Management Partners LLC grew its position in shares of Cloudflare by 3.3% in the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after buying an additional 114 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after buying an additional 119 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 over the last three months. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NET shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Scotiabank lifted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Cantor Fitzgerald upped their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.28.

Cloudflare Trading Up 3.4 %

Cloudflare stock opened at $172.40 on Tuesday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $176.73. The stock has a fifty day simple moving average of $120.24 and a two-hundred day simple moving average of $97.77. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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, analysts expect that Cloudflare, Inc. will post -0.04 EPS for the current year.

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.