Kingswood Wealth Advisors LLC Acquires 132 Shares of Cloudflare, Inc. (NYSE:NET)

Kingswood Wealth Advisors LLC raised its holdings in Cloudflare, Inc. (NYSE:NET) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,358 shares of the company’s stock after acquiring an additional 132 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Cloudflare were worth $2,278,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare during the first quarter worth $29,000. JTC Employer Solutions Trustee Ltd bought a new stake in Cloudflare during the 3rd quarter worth $38,000. Providence Capital Advisors LLC raised its position in Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after buying an additional 848 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Truist Financial lifted their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Morgan Stanley lifted their target price on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. JMP Securities increased their price target on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.50.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 9,620 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $86.48, for a total value of $831,937.60. Following the completion of the transaction, the director now owns 1,587,547 shares of the company’s stock, valued at approximately $137,291,064.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $76.80, for a total value of $4,023,091.20. Following the transaction, the chief executive officer now directly owns 249,830 shares of the company’s stock, valued at approximately $19,186,944. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 9,620 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.48, for a total transaction of $831,937.60. Following the sale, the director now directly owns 1,587,547 shares in the company, valued at approximately $137,291,064.56. The disclosure for this sale can be found here. Insiders sold 1,079,436 shares of company stock valued at $101,070,085 in the last quarter. Company insiders own 14.80% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $96.04 on Tuesday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $92.37 and a 200 day moving average of $77.75. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

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.