FineMark National Bank & Trust Invests $220,000 in Cloudflare, Inc. (NYSE:NET)

FineMark National Bank & Trust bought a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,041 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its stake in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. Geode Capital Management LLC boosted 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 valued at $390,130,000 after buying an additional 121,810 shares during the period. Generate Investment Management Ltd purchased a new position in shares of Cloudflare in the fourth quarter valued at about $12,946,000. KLP Kapitalforvaltning AS bought a new position in shares of Cloudflare during the fourth quarter valued at about $11,834,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Cloudflare during the third quarter worth about $8,535,000. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,226,652.76. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is owned by corporate insiders.

Cloudflare Trading Down 5.0 %

Shares of NYSE NET opened at $121.14 on Thursday. The company has a market cap of $41.80 billion, a PE ratio of -550.62 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm’s 50 day moving average price is $137.31 and its 200-day moving average price is $110.92. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on NET. Guggenheim upped their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Mizuho decreased their target price on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Oppenheimer assumed coverage on shares of Cloudflare in a report on Thursday, March 20th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.64.

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.