Independent Advisor Alliance Grows Holdings in Cloudflare, Inc. (NYSE:NET)

Independent Advisor Alliance grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,292 shares of the company’s stock after buying an additional 130 shares during the quarter. Independent Advisor Alliance’s holdings in Cloudflare were worth $3,046,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after buying an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cloudflare by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after buying an additional 63,945 shares during the last quarter. Swiss National Bank raised its position in Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its position in Cloudflare by 0.4% during the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 571,766 shares of company stock worth $73,804,307 in the last three months. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock opened at $119.18 on Thursday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market capitalization of $41.13 billion, a P/E ratio of -541.73 and a beta of 1.27. The firm’s 50-day moving average is $136.21 and its two-hundred day moving average is $108.20. 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 released 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Tuesday, February 11th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. UBS Group increased their price target on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald increased their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $136.28.

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.