Cloudflare, Inc. (NYSE:NET) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 18.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,602 shares of the company’s stock after purchasing an additional 2,893 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cloudflare were worth $1,549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Cloudflare by 300.8% during the fourth quarter. Raymond James & Associates now owns 55,857 shares of the company’s stock worth $4,651,000 after buying an additional 41,920 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in Cloudflare during the 4th quarter valued at about $1,140,000. CFM Wealth Partners LLC raised its holdings in Cloudflare by 1.1% in the 4th quarter. CFM Wealth Partners LLC now owns 35,300 shares of the company’s stock valued at $2,939,000 after acquiring an additional 382 shares during the last quarter. Brookstone Capital Management purchased a new position in Cloudflare in the 4th quarter worth approximately $237,000. Finally, Affinity Wealth Management LLC acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $2,472,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NET. KeyCorp increased their price target on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Royal Bank of Canada raised their price target on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Truist Financial upped their price objective on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price (up previously from $70.00) on shares of Cloudflare in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.50.

Cloudflare Trading Up 1.3 %

NYSE NET opened at $96.09 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of -174.71 and a beta of 1.12. The firm has a 50 day simple moving average of $96.24 and a 200-day simple moving average of $80.59. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00.

Cloudflare (NYSE:NET) last released its 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 company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $95.29, for a total transaction of $4,991,671.36. Following the completion of the sale, the chief executive officer now directly owns 230,612 shares of the company’s stock, valued at approximately $21,975,017.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was 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 of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,113,937 shares of company stock worth $106,926,869. Company insiders own 14.80% 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.