Peterson Wealth Services Buys Shares of 2,913 Cloudflare, Inc. (NYSE:NET)

Peterson Wealth Services acquired a new position in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,913 shares of the company’s stock, valued at approximately $243,000.

A number of other institutional investors have also made changes to their positions in NET. PNC Financial Services Group Inc. lifted its stake in shares of Cloudflare by 48.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock valued at $1,066,000 after acquiring an additional 2,912 shares during the period. MetLife Investment Management LLC bought a new stake in Cloudflare during the first quarter worth $1,950,000. Synovus Financial Corp bought a new stake in Cloudflare during the first quarter worth $439,000. Cibc World Market Inc. raised its position in shares of Cloudflare by 16.8% in the first quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock valued at $2,611,000 after purchasing an additional 3,140 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Cloudflare by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock valued at $21,732,000 after purchasing an additional 17,681 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NET shares. KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Needham & Company LLC lifted their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Morgan Stanley boosted their price target on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a report on Tuesday, February 13th. Finally, Sanford C. Bernstein began coverage on Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.08.

Cloudflare Price Performance

NET stock traded up $0.05 during midday trading on Thursday, reaching $88.05. The company had a trading volume of 712,103 shares, compared to its average volume of 3,791,612. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a 50 day moving average price of $96.93 and a 200 day moving average price of $81.59. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, equities analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $78.68, for a total value of $1,008,677.60. Following the transaction, the chief operating officer now owns 249,830 shares of the company’s stock, valued at $19,656,624.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $78.68, for a total value of $1,008,677.60. Following the transaction, the chief operating officer now owns 249,830 shares of the company’s stock, valued at $19,656,624.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,903 shares of company stock valued at $102,487,506 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

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.