Vestmark Advisory Solutions Inc. Invests $232,000 in Cloudflare, Inc. (NYSE:NET)

Vestmark Advisory Solutions Inc. bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,782 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Cloudflare by 1.5% in the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after purchasing an additional 395,363 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Cloudflare by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company’s stock valued at $109,451,000 after acquiring an additional 14,984 shares during the period. Northern Trust Corp grew its holdings in Cloudflare by 3.1% in the third quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after purchasing an additional 51,345 shares during the period. Deutsche Bank AG increased its stake in shares of Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after purchasing an additional 65,596 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock valued at $62,000,000 after purchasing an additional 11,342 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Douglas James Kramer sold 6,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00. Following the sale, the insider now owns 216,114 shares of the company’s stock, valued at approximately $23,789,829.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $73.97, for a total value of $1,109,550.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,036,385 shares of company stock valued at $101,055,510. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 0.2 %

NET opened at $74.12 on Wednesday. The firm’s 50 day simple moving average is $92.69 and its two-hundred day simple moving average is $83.93. The company has a market capitalization of $25.03 billion, a PE ratio of -139.85 and a beta of 1.15. Cloudflare, Inc. has a 1-year low of $44.60 and a 1-year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NET shares. Susquehanna cut their price target on Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday. Oppenheimer reduced their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Truist Financial raised their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, JMP Securities increased their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.48.

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.