Summit Trail Advisors LLC Buys 1,076 Shares of Cloudflare, Inc. (NYSE:NET)

Summit Trail Advisors LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,838 shares of the company’s stock after buying an additional 1,076 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cloudflare were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the third quarter worth $25,588,000. International Assets Investment Management LLC acquired a new position in shares of Cloudflare during the third quarter worth $147,160,000. Parnassus Investments LLC lifted its holdings in shares of Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after purchasing an additional 131,319 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares during the period. Finally, Generate Investment Management Ltd acquired a new position in shares of Cloudflare during the fourth quarter worth $12,946,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 3.4 %

Shares of NET stock opened at $172.40 on Tuesday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $176.73. 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 company has a 50-day simple moving average of $120.24 and a two-hundred day simple moving average of $97.77.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NET. Needham & Company LLC lifted their price target on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Susquehanna boosted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday. Stifel Nicolaus boosted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $133.28.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,738 shares of company stock valued at $69,632,506. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Company 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.