Wedmont Private Capital Purchases New Position in Cloudflare, Inc. (NYSE:NET)

Wedmont Private Capital purchased a new stake in shares of Cloudflare, Inc. (NYSE:NETFree Report) in the 1st quarter, Holdings Channel reports. The fund purchased 2,631 shares of the company’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NET. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC bought a new stake in Cloudflare in the 4th quarter worth approximately $39,000. Pingora Partners LLC bought a new stake in Cloudflare in the 4th quarter worth approximately $42,000. Massmutual Trust Co. FSB ADV grew its position in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after purchasing an additional 514 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after purchasing an additional 296 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 0.7 %

NET opened at $77.94 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The firm’s fifty day moving average is $77.63 and its 200 day moving average is $85.30. The stock has a market cap of $26.48 billion, a price-to-earnings ratio of -147.06 and a beta of 1.08.

Cloudflare (NYSE:NETGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on NET. KeyCorp cut their target price on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a research report on Tuesday, May 14th. Susquehanna cut their target price on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.70.

Get Our Latest Analysis on NET

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $97.16, for a total transaction of $291,480.00. Following the completion of the transaction, the insider now owns 205,238 shares of the company’s stock, valued at approximately $19,940,924.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carl Ledbetter sold 9,993 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $100.16, for a total transaction of $1,000,898.88. Following the sale, the director now directly owns 1,275,004 shares in the company, valued at approximately $127,704,400.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $97.16, for a total transaction of $291,480.00. Following the sale, the insider now owns 205,238 shares in the company, valued at $19,940,924.08. The disclosure for this sale can be found here. Insiders sold 662,119 shares of company stock valued at $54,101,374 in the last 90 days. Insiders own 12.83% of the company’s stock.

Cloudflare Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NETFree Report).

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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