RFG Advisory LLC Acquires 982 Shares of Cloudflare, Inc. (NYSE:NET)

RFG Advisory LLC boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,816 shares of the company’s stock after purchasing an additional 982 shares during the period. RFG Advisory LLC’s holdings in Cloudflare were worth $1,057,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare in the third quarter valued at approximately $25,588,000. International Assets Investment Management LLC purchased a new position in shares of Cloudflare in the third quarter worth $147,160,000. Parnassus Investments LLC raised its holdings in Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares during the last quarter. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% during the 3rd 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. Finally, Los Angeles Capital Management LLC grew its holdings in Cloudflare by 70.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock worth $22,716,000 after acquiring an additional 116,130 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Morgan Stanley increased their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, 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 report on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $108.32.

Cloudflare Stock Up 1.0 %

Shares of Cloudflare stock opened at $125.19 on Friday. The company has a 50-day simple moving average of $110.70 and a two-hundred day simple moving average of $92.79. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $125.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market capitalization of $42.96 billion, a PE ratio of -481.49 and a beta of 1.10.

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

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $18,370,199.43. The trade was a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 641,132 shares of company stock valued at $69,429,058 over the last ninety days. Insiders own 12.83% of the company’s stock.

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.