Diversify Wealth Management LLC Acquires Shares of 2,547 Cloudflare, Inc. (NYSE:NET)

Diversify Wealth Management LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,547 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors also recently modified their holdings of the business. Hartline Investment Corp raised its stake in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. National Pension Service raised its position in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Cloudflare in the second quarter valued at approximately $7,319,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 31,136 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $30,369,566.90. The trade was a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 589,852 shares of company stock valued at $63,169,052 over the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $123.03 on Thursday. 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 $123.13. The firm has a market cap of $42.22 billion, a PE ratio of -473.20 and a beta of 1.10. The firm’s fifty day moving average is $109.35 and its 200-day moving average is $92.22.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Scotiabank upped their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.32.

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.