EP Wealth Advisors LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

EP Wealth Advisors LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,201 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the period. CoreCap Advisors LLC boosted its stake in Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock worth $60,000 after buying an additional 380 shares during the period. Whittier Trust Co. boosted its stake in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after buying an additional 329 shares during the period. Sava Infond d.o.o. purchased a new position in Cloudflare during the fourth quarter worth $65,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Cloudflare during the fourth quarter valued at $66,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00. Following the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492,492 shares of company stock valued at $63,757,685. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NET shares. Robert W. Baird restated a “neutral” rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Jefferies Financial Group cut their price target on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, May 9th. Guggenheim upped their price target on shares of Cloudflare from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Finally, Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $141.79.

Cloudflare Price Performance

NYSE NET opened at $150.39 on Wednesday. The firm’s fifty day simple moving average is $116.38 and its two-hundred day simple moving average is $118.56. The firm has a market capitalization of $51.90 billion, a P/E ratio of -683.59 and a beta of 1.78. 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 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS 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.