2,229 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Evoke Wealth LLC

Evoke Wealth LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,229 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors have also added to or reduced their stakes in NET. OneDigital Investment Advisors LLC lifted its holdings in Cloudflare by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after purchasing an additional 137 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Cloudflare by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 10,629 shares of the company’s stock worth $860,000 after purchasing an additional 545 shares in the last quarter. Empowered Funds LLC lifted its holdings in Cloudflare by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after purchasing an additional 313 shares in the last quarter. Swiss National Bank lifted its holdings in Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $48,501,613.16. The trade was a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 609,150 shares of company stock worth $78,440,970. 12.83% of the stock is owned by insiders.

Cloudflare Trading Up 2.1 %

NET opened at $117.48 on Thursday. The stock has a market cap of $40.54 billion, a PE ratio of -534.02 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 has a 50 day moving average of $136.54 and a 200-day moving average of $109.42. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) 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 predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on NET. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Cantor Fitzgerald raised their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Scotiabank raised their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $130.04.

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.