2,000 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also recently made changes to their positions in the company. Hartline Investment Corp grew its holdings in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare in the 3rd quarter valued at $25,588,000. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares in the last quarter. National Pension Service grew its holdings in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC purchased a new stake in Cloudflare in the 4th quarter valued at $265,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET stock opened at $151.83 on Monday. The stock has a market cap of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $130.11 and a 200 day moving average price of $103.46.

Cloudflare (NYSE:NET) last issued its 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%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NET. Piper Sandler upped their target price on Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group upped their target price on Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday, February 7th. Susquehanna increased their price target on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Guggenheim increased their price target on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Four equities 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $136.28.

Insiders Place Their Bets

In other news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $326,648.46. Following the transaction, 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. Over the last 90 days, insiders have sold 558,918 shares of company stock valued at $68,709,509. 12.83% of the stock is currently owned by insiders.

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.