LVW Advisors LLC Purchases 839 Shares of Cloudflare, Inc. (NYSE:NET)

LVW Advisors LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 14.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,668 shares of the company’s stock after acquiring an additional 839 shares during the quarter. LVW Advisors LLC’s holdings in Cloudflare were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Marshall Wace LLP lifted its position in Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the last quarter. Swiss National Bank lifted its position in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares during the last quarter. Finally, National Pension Service lifted its position in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,226,652.76. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 524,852 shares of company stock worth $55,386,256 over the last quarter. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Royal Bank of Canada raised their price target on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and raised their price target for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Cantor Fitzgerald initiated coverage on Cloudflare in a research report on Friday. They issued a “neutral” rating and a $111.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.00.

Cloudflare Price Performance

NET opened at $117.13 on Monday. The business’s 50-day moving average is $107.72 and its two-hundred day moving average is $91.54. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $121.02. 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 market capitalization of $40.20 billion, a PE ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

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.