Clare Market Investments LLC Invests $702,000 in Cloudflare, Inc. (NYSE:NET)

Clare Market Investments LLC bought a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,515 shares of the company’s stock, valued at approximately $702,000.

Several other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in shares of Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after acquiring an additional 77 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. grew its position in Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares in the last quarter. Finally, Amalgamated Bank grew its position in Cloudflare by 0.5% during the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NET. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Mizuho boosted their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. JMP Securities boosted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Guggenheim boosted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Price Performance

NYSE:NET opened at $126.57 on Monday. The stock has a market cap of $43.67 billion, a P/E ratio of -575.30 and a beta of 1.27. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a fifty day moving average price of $135.81 and a 200 day moving average price of $107.51. 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 (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $19,489,020.12. This represents a 12.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 623,046 shares of company stock valued at $79,594,844 in the last 90 days. 12.83% of the stock is currently owned by company insiders.

Cloudflare Company Profile

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.