Grandview Asset Management LLC Purchases 1,698 Shares of Cloudflare, Inc. (NYSE:NET)

Grandview Asset Management LLC grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,972 shares of the company’s stock after purchasing an additional 1,698 shares during the quarter. Grandview Asset Management LLC’s holdings in Cloudflare were worth $1,289,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brookstone Capital Management bought a new position in Cloudflare in the 4th quarter worth approximately $304,000. Capital Market Strategies LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth $647,000. Nordea Investment Management AB boosted its holdings in shares of Cloudflare by 0.7% in the fourth quarter. Nordea Investment Management AB now owns 39,776 shares of the company’s stock worth $4,307,000 after acquiring an additional 261 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Cloudflare in the fourth quarter valued at $803,000. Finally, GAMMA Investing LLC raised its stake in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Royal Bank of Canada boosted their price target 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, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $102.30.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,223,962.26. This represents a 82.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 592,236 shares of company stock valued at $61,512,210 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $110.59 on Tuesday. 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 fifty-two week low of $66.24 and a fifty-two week high of $119.42. The firm has a market cap of $37.95 billion, a P/E ratio of -425.35 and a beta of 1.10. The business’s 50 day moving average price is $105.41 and its 200-day moving average price is $90.48.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (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, equities research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

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.