Sanctuary Advisors LLC Buys 4,251 Shares of Cloudflare, Inc. $NET

Sanctuary Advisors LLC grew its stake in Cloudflare, Inc. (NYSE:NET) by 13.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,564 shares of the company’s stock after buying an additional 4,251 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cloudflare were worth $7,011,000 at the end of the most recent reporting period.

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

Cloudflare Price Performance

Shares of NYSE:NET opened at $208.05 on Wednesday. The firm has a market cap of $73.23 billion, a price-to-earnings ratio of -717.38 and a beta of 1.87. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a fifty-two week low of $117.07 and a fifty-two week high of $260.00. The business has a 50-day simple moving average of $199.24 and a two-hundred day simple moving average of $200.21.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho cut their target price on Cloudflare from $255.00 to $235.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. TD Cowen restated a “buy” rating on shares of Cloudflare in a report on Tuesday, January 27th. Susquehanna set a $190.00 target price on Cloudflare in a research report on Thursday, February 12th. Robert W. Baird set a $260.00 target price on shares of Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, Guggenheim lifted their price target on Cloudflare from $117.00 to $140.00 and gave the stock a “sell” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.62.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 659 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $223.62, for a total transaction of $147,365.58. Following the completion of the sale, the chief executive officer directly owned 406,315 shares of the company’s stock, valued at approximately $90,860,160.30. This represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total transaction of $3,405,750.00. Following the completion of the transaction, the director owned 938,073 shares in the company, valued at $212,989,474.65. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 609,247 shares of company stock valued at $118,913,474 in the last three months. 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.