Axxcess Wealth Management LLC Purchases New Shares in Cloudflare, Inc. (NYSE:NET)

Axxcess Wealth Management LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,172 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Cloudflare by 2.6% in the third 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 last quarter. Bank of New York Mellon Corp increased its position in Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after purchasing an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after purchasing an additional 63,945 shares during the period. Peregrine Capital Management LLC increased its position in Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after purchasing an additional 2,483 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in Cloudflare by 16.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock worth $42,602,000 after purchasing an additional 56,906 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at $1,223,962.26. This represents a 82.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 566,766 shares of company stock worth $73,779,200. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NET. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. UBS Group lowered their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Susquehanna lifted their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Needham & Company LLC lowered their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, JMP Securities boosted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $131.64.

Cloudflare Trading Up 0.9 %

NYSE NET opened at $118.95 on Friday. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. The stock’s 50 day moving average price is $136.73 and its two-hundred day moving average price is $110.01. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET) last released 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%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company Profile

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.