Northwest & Ethical Investments L.P. Has $285,000 Stock Position in Cloudflare, Inc. (NYSE:NET)

Northwest & Ethical Investments L.P. raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 32.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,650 shares of the company’s stock after purchasing an additional 650 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Cloudflare were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its stake in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after acquiring an additional 105 shares during the period. D.A. Davidson & CO. raised its position in shares of Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Cloudflare by 0.5% in the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the period. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NET. Needham & Company LLC decreased their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Susquehanna lifted their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada reduced their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, 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 report on Friday, February 7th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $131.64.

Cloudflare Stock Performance

Shares of NET stock opened at $118.95 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a 50-day moving average of $136.73 and a 200-day moving average of $110.01. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is owned by company insiders.

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.