Certuity LLC Purchases 331 Shares of Cloudflare, Inc. (NYSE:NET)

Certuity LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,880 shares of the company’s stock after buying an additional 331 shares during the quarter. Certuity LLC’s holdings in Cloudflare were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC boosted its position in Cloudflare by 91.0% in the third quarter. CWM LLC now owns 9,690 shares of the company’s stock worth $784,000 after purchasing an additional 4,617 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Cloudflare by 12.4% during the 3rd quarter. Inspire Investing LLC now owns 3,550 shares of the company’s stock worth $287,000 after purchasing an additional 391 shares during the period. Creative Planning raised its stake in shares of Cloudflare by 17.8% during the 3rd quarter. Creative Planning now owns 31,519 shares of the company’s stock worth $2,550,000 after purchasing an additional 4,756 shares during the period. Swedbank AB boosted its holdings in shares of Cloudflare by 128.6% in the 3rd quarter. Swedbank AB now owns 18,941 shares of the company’s stock worth $1,532,000 after buying an additional 10,656 shares during the last quarter. Finally, CFM Wealth Partners LLC bought a new position in Cloudflare during the third quarter valued at about $2,767,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $172.78 on Thursday. The stock has a market capitalization of $59.30 billion, a price-to-earnings ratio of -785.36 and a beta of 1.12. The company has a fifty day moving average of $122.83 and a 200-day moving average of $98.96. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $176.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts expect that Cloudflare, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NET. Truist Financial lifted 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. Jefferies Financial Group lifted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Piper Sandler upped their price target on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $135.28.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 581,354 shares of company stock valued at $64,625,120 in the last ninety days. Company insiders own 12.83% of the company’s stock.

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.