Stratos Wealth Partners LTD. Acquires 77 Shares of Cloudflare, Inc. (NYSE:NET)

Stratos Wealth Partners LTD. lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,583 shares of the company’s stock after purchasing an additional 77 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cloudflare were worth $709,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hartline Investment Corp increased its holdings in shares of Cloudflare by 7.6% during the third 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 during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare during the third quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its stake in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares during the last quarter. National Pension Service increased its stake in 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 acquiring an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC bought a new position in Cloudflare in the fourth quarter valued at approximately $265,000. 82.68% of the stock is owned by institutional investors.

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 completion of the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 of the company’s stock, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock valued at $69,632,506 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $172.40 on Tuesday. The firm’s 50-day moving average price is $120.24 and its 200-day moving average price is $97.77. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $176.73. The firm has a market capitalization of $59.17 billion, a P/E ratio of -783.65 and a beta of 1.12. 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 (NYSE:NET) last announced 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 net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NET. JMP Securities lifted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday. Morgan Stanley lifted their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Scotiabank lifted their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $133.28.

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.