Cloudflare, Inc. (NYSE:NET) Shares Acquired by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,535 shares of the company’s stock after purchasing an additional 257 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Cloudflare were worth $488,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. CVA Family Office LLC increased its stake in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the period. Quarry LP grew its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Cloudflare during the 3rd quarter worth approximately $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $54,000. Finally, Versant Capital Management Inc raised its holdings in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. UBS Group raised their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upped their price target on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $108.32.

Cloudflare Stock Performance

NYSE:NET opened at $123.89 on Friday. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of -476.49 and a beta of 1.10. 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 1-year low of $66.24 and a 1-year high of $124.64. The firm’s fifty day moving average price is $109.35 and its 200 day moving average price is $92.22.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 31,136 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $30,369,566.90. This trade represents a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at $18,370,199.43. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 589,852 shares of company stock valued at $63,169,052. Corporate insiders own 12.83% of the company’s stock.

Cloudflare 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.