GAMMA Investing LLC Acquires Shares of 497 Cloudflare, Inc. (NYSE:NET)

GAMMA Investing LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 497 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in Cloudflare by 9.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock valued at $3,588,000 after purchasing an additional 4,685 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Cloudflare by 27.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock worth $990,000 after buying an additional 3,337 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Cloudflare during the third quarter worth about $372,000. J.W. Cole Advisors Inc. purchased a new stake in Cloudflare during the 3rd quarter valued at about $255,000. Finally, Forsta AP Fonden raised its holdings in Cloudflare by 0.7% in the 3rd quarter. Forsta AP Fonden now owns 57,500 shares of the company’s stock valued at $3,625,000 after acquiring an additional 400 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NET shares. Capital One Financial initiated coverage on Cloudflare in a report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 target price (down from $110.00) on shares of Cloudflare in a research note on Friday. JPMorgan Chase & Co. reduced their target price on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. Oppenheimer lowered their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Finally, Mizuho dropped their target price on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.17.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 27,901 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $96.56, for a total value of $2,694,120.56. Following the transaction, the chief financial officer now owns 338,469 shares in the company, valued at approximately $32,682,566.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,029,347 shares of company stock valued at $100,594,226. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $74.40 on Friday. The company’s fifty day moving average is $93.67 and its two-hundred day moving average is $83.60. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

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.