Global Wealth Management Investment Advisory Inc. Has $1.86 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Global Wealth Management Investment Advisory Inc. lowered its stake in Cloudflare, Inc. (NYSE:NET) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,256 shares of the company’s stock after selling 838 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Cloudflare were worth $1,858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the third quarter worth about $25,588,000. International Assets Investment Management LLC acquired a new position in Cloudflare during the 3rd quarter worth approximately $147,160,000. Parnassus Investments LLC boosted its position in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the last quarter. Finally, Generate Investment Management Ltd acquired a new position in shares of Cloudflare during the fourth quarter worth $12,946,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 17.9 %

Shares of Cloudflare stock opened at $166.88 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $171.38. The stock has a 50 day moving average price of $118.89 and a two-hundred day moving average price of $97.11.

Cloudflare (NYSE:NET) last issued its quarterly earnings data 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 return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on 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 owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,738 shares of company stock valued at $69,632,506. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Morgan Stanley upped their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird reiterated a “neutral” rating and set a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Cantor Fitzgerald increased their price objective on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.48.

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.