2,182 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,182 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares during the last quarter. Swiss National Bank grew its position in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after purchasing an additional 10,100 shares during the last quarter. National Pension Service raised its position in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in Cloudflare by 16.8% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock valued at $42,602,000 after buying an additional 56,906 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at $21,403,676.25. This trade represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 641,132 shares of company stock worth $69,429,058 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NET shares. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Truist Financial boosted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Scotiabank raised their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $109.72.

Cloudflare Trading Down 2.5 %

NYSE NET opened at $136.44 on Thursday. The firm has a market capitalization of $46.83 billion, a price-to-earnings ratio of -524.77 and a beta of 1.10. 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, Inc. has a one year low of $66.24 and a one year high of $140.25. The company’s 50 day moving average price is $113.05 and its 200 day moving average price is $93.88.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. On average, sell-side analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

About Cloudflare

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.