Cloudflare, Inc. (NYSE:NET) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,514 shares of the company’s stock after purchasing an additional 34,765 shares during the period. Envestnet Asset Management Inc.’s holdings in Cloudflare were worth $21,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its stake in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. raised its stake in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the last quarter. Baxter Bros Inc. grew its stake in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after purchasing an additional 100 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after purchasing an additional 106 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET stock opened at $106.84 on Tuesday. The stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of -485.64 and a beta of 1.59. The stock’s fifty day simple moving average is $131.11 and its 200-day simple moving average is $113.89. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 561,973 shares of company stock worth $73,056,260. 12.83% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NET shares. Guggenheim lifted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research note on Tuesday, February 11th. Mizuho cut their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group lowered their price objective on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Wells Fargo & Company increased their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus target price of $134.88.

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.