RFG Advisory LLC Boosts Holdings in Cloudflare, Inc. (NYSE:NET)

RFG Advisory LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,816 shares of the company’s stock after buying an additional 982 shares during the period. RFG Advisory LLC’s holdings in Cloudflare were worth $1,057,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Cloudflare by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 326,853 shares of the company’s stock worth $27,070,000 after purchasing an additional 1,460 shares in the last quarter. Sei Investments Co. increased its position in Cloudflare by 30.7% in the second quarter. Sei Investments Co. now owns 127,541 shares of the company’s stock worth $10,564,000 after buying an additional 29,963 shares in the last quarter. AXA S.A. bought a new position in shares of Cloudflare in the second quarter worth about $625,000. APG Asset Management N.V. lifted its position in shares of Cloudflare by 7.8% during the 2nd quarter. APG Asset Management N.V. now owns 274,626 shares of the company’s stock valued at $21,224,000 after buying an additional 19,921 shares in the last quarter. Finally, MBB Public Markets I LLC grew its stake in shares of Cloudflare by 711.2% during the 2nd quarter. MBB Public Markets I LLC now owns 22,356 shares of the company’s stock valued at $1,852,000 after acquiring an additional 19,600 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 641,132 shares of company stock valued at $69,429,058. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group upped their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Cantor Fitzgerald started coverage on Cloudflare in a research report on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.32.

Cloudflare Trading Up 1.0 %

NET stock opened at $125.19 on Friday. The firm’s fifty day simple moving average is $110.70 and its two-hundred day simple moving average is $92.79. The stock has a market capitalization of $42.96 billion, a price-to-earnings ratio of -481.49 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $125.71.

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