Larson Financial Group LLC Increases Position in Cloudflare, Inc. (NYSE:NET)

Larson Financial Group LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1,988.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 543 shares of the company’s stock after buying an additional 517 shares during the period. Larson Financial Group LLC’s holdings in Cloudflare were worth $58,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares during the period. Bank of New York Mellon Corp boosted its position in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after buying an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after buying an additional 63,945 shares during the period. Swiss National Bank boosted its position in Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after buying an additional 10,100 shares during the period. Finally, Peregrine Capital Management LLC boosted its position in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after buying an additional 2,483 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Price Performance

Shares of NET opened at $119.18 on Thursday. The stock has a market cap of $41.13 billion, a PE ratio of -541.73 and a beta of 1.27. 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 $177.37. The firm’s 50-day simple moving average is $136.21 and its two-hundred day simple moving average is $108.20.

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

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 571,766 shares of company stock valued at $73,804,307 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Susquehanna upped their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. JMP Securities upped their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada upped their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Four equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $136.28.

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.