Cloudflare, Inc. $NET Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in Cloudflare, Inc. (NYSE:NET) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,933 shares of the company’s stock after purchasing an additional 3,658 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cloudflare were worth $5,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after buying an additional 104 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Cloudflare during the third quarter valued at about $26,000. Westside Investment Management Inc. increased its position in shares of Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 65 shares during the last quarter. ORG Wealth Partners LLC lifted its stake in shares of Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of Cloudflare in the third quarter worth about $30,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 2.9%

Shares of NET stock opened at $211.30 on Friday. The stock has a 50-day simple moving average of $192.63 and a 200 day simple moving average of $202.89. The stock has a market capitalization of $74.37 billion, a P/E ratio of -728.58 and a beta of 1.87. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the previous year, the business earned $0.19 earnings per share. Cloudflare’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NET shares. Guggenheim raised their price objective on Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a research note on Wednesday, February 11th. Needham & Company LLC cut their target price on Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Wells Fargo & Company raised their price target on shares of Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. KeyCorp reiterated an “overweight” rating on shares of Cloudflare in a research note on Wednesday, February 11th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $233.38.

Insider Buying and Selling at Cloudflare

In related news, Director Mark J. Hawkins sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $209.60, for a total transaction of $27,876.80. Following the completion of the sale, the director directly owned 10,322 shares in the company, valued at approximately $2,163,491.20. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the completion of the transaction, the insider owned 34,514 shares in the company, valued at approximately $6,540,403. This trade represents a 42.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 632,901 shares of company stock valued at $120,754,306. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.