Mission Wealth Management LP Has $502,000 Stake in Cloudflare, Inc. (NYSE:NET)

Mission Wealth Management LP decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,658 shares of the company’s stock after selling 134 shares during the period. Mission Wealth Management LP’s holdings in Cloudflare were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $138,516,000 after acquiring an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 in the last quarter. Swiss National Bank boosted its position in shares of Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of Cloudflare by 0.4% during 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 in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NET shares. Stifel Nicolaus lifted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Mizuho lifted their price target on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Susquehanna lifted their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada lifted their price target on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Up 1.9 %

Shares of NET stock opened at $143.67 on Thursday. 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 1 year low of $66.24 and a 1 year high of $177.37. The firm’s fifty day moving average price is $134.50 and its two-hundred day moving average price is $106.61. The firm has a market capitalization of $49.58 billion, a P/E ratio of -653.05 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 623,046 shares of company stock worth $79,594,844 in the last ninety days. 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.