Cloudflare, Inc. (NYSE:NET) Holdings Boosted by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 49.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 948 shares of the company’s stock after acquiring an additional 314 shares during the period. Lindbrook Capital LLC’s holdings in Cloudflare were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Kingswood Wealth Advisors LLC lifted its holdings in Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after acquiring an additional 132 shares during the last quarter. Quent Capital LLC increased its stake in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after purchasing an additional 140 shares during the period. CWM LLC increased its stake in shares of Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after purchasing an additional 153 shares during the period. Xponance Inc. increased its stake in shares of Cloudflare by 0.6% in the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock valued at $2,565,000 after purchasing an additional 224 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Cloudflare by 1.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock valued at $1,244,000 after purchasing an additional 239 shares during the period. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NET. KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Needham & Company LLC raised their price target on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 price objective on the stock. Capital One Financial began coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Four equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.08.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,031 shares of Cloudflare stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the sale, the director now owns 1,454,919 shares of the company’s stock, valued at approximately $117,717,496.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $30,002,489.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl Ledbetter sold 10,031 shares of Cloudflare stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the sale, the director now directly owns 1,454,919 shares of the company’s stock, valued at approximately $117,717,496.29. The disclosure for this sale can be found here. Insiders sold 1,036,341 shares of company stock valued at $101,013,542 in the last quarter. Company insiders own 14.80% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $87.68 on Thursday. The company has a 50 day moving average price of $95.72 and a 200 day moving average price of $82.47. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last issued 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. The company had revenue of $362.47 million during 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%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current 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.