Mosley Wealth Management Acquires New Stake in Cloudflare, Inc. (NYSE:NET)

Mosley Wealth Management bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,915 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its stake in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. increased its stake in Cloudflare by 0.5% in the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Cloudflare by 0.5% during the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after buying an additional 107 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NET opened at $118.95 on Friday. The firm has a market cap of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $136.73 and its two-hundred day moving average is $110.01. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,226,652.76. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 566,766 shares of company stock valued at $73,779,200. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. Robert W. Baird restated a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Cantor Fitzgerald upped 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. Stifel Nicolaus lifted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. JMP Securities upped their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $131.64.

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.