Keystone Wealth Services LLC Buys 1,075 Shares of Cloudflare, Inc. (NYSE:NET)

Keystone Wealth Services LLC lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,348 shares of the company’s stock after acquiring an additional 1,075 shares during the quarter. Keystone Wealth Services LLC’s holdings in Cloudflare were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. LGT Group Foundation lifted its stake in Cloudflare by 47.7% during the fourth quarter. LGT Group Foundation now owns 61,745 shares of the company’s stock worth $6,649,000 after purchasing an additional 19,952 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Cloudflare during the 4th quarter valued at about $1,154,000. Jones Financial Companies Lllp lifted its position in Cloudflare by 164.7% in the 4th quarter. Jones Financial Companies Lllp now owns 5,024 shares of the company’s stock worth $541,000 after buying an additional 3,126 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Cloudflare by 65.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the company’s stock worth $136,000 after buying an additional 492 shares in the last quarter. Finally, Metis Global Partners LLC grew its position in Cloudflare by 10.4% during the fourth quarter. Metis Global Partners LLC now owns 4,179 shares of the company’s stock valued at $450,000 after acquiring an additional 393 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total value of $1,648,500.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 638,046 shares of company stock worth $81,243,344 in the last three months. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Up 3.4 %

NET stock opened at $145.48 on Monday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a market capitalization of $49.93 billion, a price-to-earnings ratio of -661.26 and a beta of 1.12. The business’s 50 day moving average price is $133.31 and its two-hundred day moving average price is $105.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Royal Bank of Canada lifted their price objective on Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group increased their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Scotiabank raised their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. 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 stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $136.28.

About Cloudflare

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.