Larson Financial Group LLC Has $58,000 Stake in Cloudflare, Inc. (NYSE:NET)

Larson Financial Group LLC raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1,988.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 543 shares of the company’s stock after purchasing an additional 517 shares during the period. Larson Financial Group LLC’s holdings in Cloudflare were worth $58,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NET. Janney Montgomery Scott LLC boosted its stake in Cloudflare by 29.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,023 shares of the company’s stock valued at $2,186,000 after purchasing an additional 6,156 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Cloudflare by 9.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after purchasing an additional 269 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Cloudflare during the 3rd quarter valued at about $403,000. Prime Capital Investment Advisors LLC boosted its stake in Cloudflare by 5.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after purchasing an additional 338 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $361,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In related news, insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the transaction, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 571,766 shares of company stock worth $73,804,307 in the last three months. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NET shares. Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price 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. JMP Securities lifted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Finally, Susquehanna lifted their target price 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. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Stock Down 0.7 %

NET opened at $119.18 on Thursday. The company has a fifty day moving average price of $136.21 and a 200-day moving average price of $108.20. The firm has a market capitalization of $41.13 billion, a P/E ratio of -541.73 and a beta of 1.27. 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 one year low of $66.24 and a one year high of $177.37.

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

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.