Cerity Partners LLC Invests $649,000 in Cloudflare, Inc. (NYSE:NET)

Cerity Partners LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 7,801 shares of the company’s stock, valued at approximately $649,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aspiriant LLC lifted its position in Cloudflare by 24.7% during the 4th quarter. Aspiriant LLC now owns 15,772 shares of the company’s stock valued at $1,313,000 after purchasing an additional 3,119 shares during the period. Executive Wealth Management LLC raised its stake in shares of Cloudflare by 2.0% during the fourth quarter. Executive Wealth Management LLC now owns 23,904 shares of the company’s stock worth $1,990,000 after buying an additional 463 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Cloudflare by 3.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 11,874 shares of the company’s stock valued at $989,000 after buying an additional 391 shares during the period. Toth Financial Advisory Corp boosted its stake in Cloudflare by 9,700.0% in the fourth quarter. Toth Financial Advisory Corp now owns 4,900 shares of the company’s stock valued at $408,000 after acquiring an additional 4,850 shares during the last quarter. Finally, RFG Advisory LLC grew its holdings in Cloudflare by 12.0% during the 4th quarter. RFG Advisory LLC now owns 6,669 shares of the company’s stock worth $555,000 after acquiring an additional 712 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the sale, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,341 shares of company stock valued at $101,013,542 over the last 90 days. 14.80% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NET opened at $87.86 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of -159.74 and a beta of 1.13. The business’s 50-day moving average price is $95.96 and its two-hundred day moving average price is $82.29. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Equities analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NET. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 price target on shares of Cloudflare in a research note on Wednesday, April 17th. Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Wells Fargo & Company raised their target price on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. JMP Securities upped their price target on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Finally, DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus target price of $87.08.

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.