Newbridge Financial Services Group Inc. Has $706,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Newbridge Financial Services Group Inc. reduced its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,560 shares of the company’s stock after selling 200 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Cloudflare were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC increased its stake in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the period. Capital Performance Advisors LLP acquired a new position in Cloudflare during the third quarter valued at approximately $38,000. Quarry LP lifted its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $54,000. Finally, Versant Capital Management Inc grew its stake in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC boosted their price target on Cloudflare from $110.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. UBS Group boosted their target price on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday. Truist Financial lifted their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $128.48.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,738 shares of company stock worth $69,632,506. 12.83% of the stock is currently owned by insiders.

Cloudflare Trading Up 17.9 %

Shares of NET opened at $166.88 on Friday. The stock’s 50-day simple moving average is $118.89 and its 200 day simple moving average is $96.85. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $171.38. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts forecast that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

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.