Soltis Investment Advisors LLC Purchases 145 Shares of Cloudflare, Inc. (NYSE:NET)

Soltis Investment Advisors LLC lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 31,576 shares of the company’s stock after purchasing an additional 145 shares during the period. Soltis Investment Advisors LLC’s holdings in Cloudflare were worth $3,400,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. increased its position in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares during the period. Chicago Partners Investment Group LLC raised its stake in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the last quarter. Wealth Management Partners LLC raised its stake in Cloudflare by 3.3% during the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock valued at $382,000 after purchasing an additional 114 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NET opened at $166.88 on Monday. The stock’s fifty day simple moving average is $118.89 and its 200-day simple moving average is $97.11. 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, Inc. has a 12-month low of $66.24 and a 12-month high of $171.38.

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%. Research analysts predict that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their target price on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday. Mizuho upped their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC increased their price objective on shares of Cloudflare from $110.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $128.48.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $18,370,199.43. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

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.