Evoke Wealth LLC Purchases Shares of 2,229 Cloudflare, Inc. (NYSE:NET)

Evoke Wealth LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,229 shares of the company’s stock, valued at approximately $240,000.

Other hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its position in shares of Cloudflare by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after acquiring an additional 137 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Cloudflare by 5.4% in the third quarter. CIBC Asset Management Inc now owns 10,629 shares of the company’s stock valued at $860,000 after acquiring an additional 545 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Cloudflare by 7.7% in the third quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock valued at $354,000 after acquiring an additional 313 shares in the last quarter. Swiss National Bank lifted its position in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Cloudflare in the third quarter worth about $54,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on NET shares. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Mizuho decreased their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Scotiabank upped their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Susquehanna upped their price objective on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $130.04.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 2,481 shares of the firm’s 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 $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company’s 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 of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,150 shares of company stock valued at $78,440,970. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $117.48 on Thursday. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of -534.02 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a fifty day moving average of $136.54 and a 200 day moving average of $109.42. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. As a group, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.