Stratos Wealth Partners LTD. Grows Holdings in Cloudflare, Inc. (NYSE:NET)

Stratos Wealth Partners LTD. increased its position in Cloudflare, Inc. (NYSE:NET) by 155.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,097 shares of the company’s stock after acquiring an additional 9,194 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cloudflare were worth $1,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Cloudflare by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after acquiring an additional 395,363 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Cloudflare by 131,133.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after buying an additional 6,068,873 shares in the last quarter. State Street Corp grew its holdings in Cloudflare by 5.3% during the 1st quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after buying an additional 278,422 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cloudflare by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after buying an additional 146,503 shares in the last quarter. Finally, Norges Bank purchased a new stake in Cloudflare during the 4th quarter valued at approximately $124,592,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 30,214 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total value of $2,297,170.42. Following the completion of the transaction, the director now directly owns 1,539,316 shares in the company, valued at $117,034,195.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares in the company, valued at $40,351,461.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 30,214 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total transaction of $2,297,170.42. Following the transaction, the director now owns 1,539,316 shares in the company, valued at approximately $117,034,195.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 965,015 shares of company stock worth $92,737,426. 14.80% of the stock is owned by corporate insiders.

Cloudflare Stock Up 1.8 %

Shares of Cloudflare stock opened at $97.00 on Wednesday. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The company has a 50-day simple moving average of $95.59 and a two-hundred day simple moving average of $80.39. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 9th. Susquehanna raised their target price on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a report on Tuesday, February 13th. Truist Financial raised their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Capital One Financial started coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target for the company. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $87.50.

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.