Smartleaf Asset Management LLC Acquires 492 Shares of Cloudflare, Inc. (NYSE:NET)

Smartleaf Asset Management LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 65.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,243 shares of the company’s stock after buying an additional 492 shares during the period. Smartleaf Asset Management LLC’s holdings in Cloudflare were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC lifted its holdings in Cloudflare by 10.4% in 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 period. US Bancorp DE lifted its holdings in Cloudflare by 2.6% in the fourth quarter. US Bancorp DE now owns 35,828 shares of the company’s stock valued at $3,858,000 after acquiring an additional 908 shares during the period. Proficio Capital Partners LLC bought a new position in Cloudflare in the fourth quarter valued at about $100,000. Oppenheimer Asset Management Inc. bought a new position in Cloudflare in the fourth quarter valued at about $416,000. Finally, Kovack Advisors Inc. bought a new position in Cloudflare in the fourth quarter valued at about $258,000. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Truist Financial increased their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Mizuho increased their target price on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Susquehanna raised their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Piper Sandler raised their price objective on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $136.28.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $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. Insiders sold 623,046 shares of company stock worth $79,594,844 in the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NYSE NET opened at $126.57 on Friday. The stock has a market capitalization of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27. The business has a 50 day simple moving average of $135.49 and a two-hundred day simple moving average of $107.04. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last released 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.