Global Wealth Management Investment Advisory Inc. Purchases 404 Shares of Cloudflare, Inc. (NYSE:NET)

Global Wealth Management Investment Advisory Inc. boosted its position in Cloudflare, Inc. (NYSE:NET) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,147 shares of the company’s stock after purchasing an additional 404 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Cloudflare were worth $1,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NET. Yousif Capital Management LLC boosted its position in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after acquiring an additional 130 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares during the period. Quent Capital LLC grew its position in shares of Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. Xponance Inc. increased its holdings in shares of Cloudflare by 0.6% during the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Cloudflare by 1.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock valued at $1,244,000 after buying an additional 239 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Down 0.0 %

Shares of Cloudflare stock traded down $0.04 on Wednesday, hitting $87.36. 868,713 shares of the company’s stock traded hands, compared to its average volume of 3,685,308. The company has a fifty day moving average of $94.50 and a two-hundred day moving average of $83.32. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company has a market capitalization of $29.50 billion, a price-to-earnings ratio of -158.83 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

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, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $30,002,489.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,325 shares of company stock valued at $101,094,871 over the last ninety days. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Sanford C. Bernstein started coverage on Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. Royal Bank of Canada boosted their price target on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Needham & Company LLC increased their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Cloudflare in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average price target of $88.48.

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.