RPG Investment Advisory LLC Purchases 838 Shares of Cloudflare, Inc. (NYSE:NET)

RPG Investment Advisory LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 167,855 shares of the company’s stock after acquiring an additional 838 shares during the quarter. Cloudflare makes up 2.4% of RPG Investment Advisory LLC’s holdings, making the stock its 12th largest holding. RPG Investment Advisory LLC’s holdings in Cloudflare were worth $18,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NET. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the 3rd quarter valued at $38,000. Quarry LP raised its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Quest Partners LLC bought a new position in Cloudflare in the 3rd quarter worth $54,000. Versant Capital Management Inc raised its holdings in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 2.9 %

Shares of NYSE:NET opened at $151.83 on Monday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a 50-day moving average price of $130.11 and a 200 day moving average price of $103.46. The company has a market cap of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 target price on shares of Cloudflare in a report on Tuesday, February 18th. Guggenheim raised their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Finally, Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $136.28.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total value of $4,640,874.45. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at $47,580,834.74. This trade represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. The trade was a 12.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 558,918 shares of company stock valued at $68,709,509. Insiders own 12.83% of the company’s stock.

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.