Global Wealth Management Investment Advisory Inc. Buys 404 Shares of Cloudflare, Inc. (NYSE:NET)

Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,147 shares of the company’s stock after acquiring an additional 404 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Cloudflare were worth $1,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in Cloudflare during the fourth quarter valued at about $39,000. Massmutual Trust Co. FSB ADV lifted its position in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after buying an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares during the last quarter. ORG Partners LLC bought a new position in Cloudflare during the fourth quarter valued at approximately $55,000. Finally, Harvest Fund Management Co. Ltd grew its position in Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after acquiring an additional 848 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Down 0.0 %

Shares of NYSE:NET traded down $0.04 during trading on Wednesday, hitting $87.36. The stock had a trading volume of 868,713 shares, compared to its average volume of 3,685,308. The company has a market capitalization of $29.50 billion, a PE ratio of -158.83 and a beta of 1.12. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm’s fifty day moving average is $94.50 and its 200 day moving average is $83.32. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Susquehanna upped their price target on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Mizuho decreased their price objective on Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company boosted their target price on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.48.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the sale, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Carl Ledbetter sold 10,015 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the completion of the transaction, the director now directly owns 1,204,815 shares in the company, valued at $107,421,305.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Insiders sold a total of 1,036,325 shares of company stock valued at $101,094,871 in the last three months. Company insiders own 12.83% 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.