MCF Advisors LLC Makes New $123,000 Investment in Cloudflare, Inc. (NYSE:NET)

MCF Advisors LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, HoldingsChannel reports. The firm bought 1,139 shares of the company’s stock, valued at approximately $123,000.

A number of other large investors also recently bought and sold shares of NET. CVA Family Office LLC lifted its holdings in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the last quarter. Quarry LP raised its position in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Finally, Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 2.7 %

NYSE NET opened at $123.03 on Thursday. The firm’s 50 day moving average price is $109.35 and its two-hundred day moving average price is $92.22. The stock has a market cap of $42.22 billion, a price-to-earnings ratio of -473.20 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $123.13. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NET. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and raised their target price for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Mizuho raised their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler raised their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $108.32.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at $18,370,199.43. This represents a 21.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 31,136 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $30,369,566.90. This trade represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 589,852 shares of company stock valued at $63,169,052. Corporate insiders own 12.83% of the company’s stock.

Cloudflare 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.