Aaron Wealth Advisors LLC Makes New $213,000 Investment in Cloudflare, Inc. (NYSE:NET)

Aaron Wealth Advisors LLC bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,978 shares of the company’s stock, valued at approximately $213,000.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NET. Wells Fargo & Company increased their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Cantor Fitzgerald began coverage on Cloudflare in a report on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group upped 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. Three 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $108.32.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $265,800.00. Following the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 589,852 shares of company stock valued at $63,169,052. 12.83% of the stock is owned by insiders.

Cloudflare Trading Up 2.3 %

NYSE:NET opened at $119.81 on Wednesday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $121.02. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of -460.81 and a beta of 1.10. The company’s 50 day moving average price is $108.20 and its 200-day moving average price is $91.77. 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 (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

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.