Main Street Financial Solutions LLC Has $240,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Main Street Financial Solutions LLC raised its holdings in Cloudflare, Inc. (NYSE:NET) by 15.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,961 shares of the company’s stock after acquiring an additional 392 shares during the period. Main Street Financial Solutions LLC’s holdings in Cloudflare were worth $240,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the last quarter. RPG Investment Advisory LLC raised its position in shares of Cloudflare by 1.2% in the 3rd quarter. RPG Investment Advisory LLC now owns 167,017 shares of the company’s stock worth $13,510,000 after acquiring an additional 2,001 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Cloudflare during the third quarter worth approximately $361,000. Prime Capital Investment Advisors LLC increased its holdings in Cloudflare by 5.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock worth $543,000 after purchasing an additional 338 shares in the last quarter. Finally, Proactive Wealth Strategies LLC acquired a new position in Cloudflare in the third quarter valued at approximately $940,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’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 sale, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 578,316 shares of company stock worth $49,124,681 over the last three months. 12.83% of the stock is currently owned by insiders.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $89.79 on Friday. The business’s fifty day simple moving average is $86.12 and its 200 day simple moving average is $80.88. The company has a current ratio of 3.37, a quick 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 $116.00. The firm has a market capitalization of $30.68 billion, a P/E ratio of -345.33 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on NET shares. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Mizuho upped their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Susquehanna upped their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Guggenheim raised their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.88.

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.