D.A. Davidson & CO. Raises Stock Holdings in Cloudflare, Inc. (NYSE:NET)

D.A. Davidson & CO. lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,075 shares of the company’s stock after purchasing an additional 106 shares during the quarter. D.A. Davidson & CO.’s holdings in Cloudflare were worth $2,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NET. Creative Planning grew its holdings in shares of Cloudflare by 17.8% during the third quarter. Creative Planning now owns 31,519 shares of the company’s stock worth $2,550,000 after purchasing an additional 4,756 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Cloudflare by 224.5% during the third quarter. Blue Trust Inc. now owns 2,447 shares of the company’s stock worth $203,000 after purchasing an additional 1,693 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Cloudflare by 12.1% during the third quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company’s stock worth $226,000 after purchasing an additional 303 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Cloudflare by 2.8% during the third quarter. Signaturefd LLC now owns 10,087 shares of the company’s stock worth $816,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $156.67, for a total value of $4,017,018.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 594,036 shares of company stock worth $72,407,434. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $151.83 on Friday. The stock has a fifty day moving average of $130.11 and a 200 day moving average of $103.08. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The firm has a market capitalization of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12. 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 (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald upped their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Robert W. Baird reiterated a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Stifel Nicolaus increased their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JMP Securities increased their price target 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. Finally, Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $136.28.

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.