6,690 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Thoma Capital Management LLC

Thoma Capital Management LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,690 shares of the company’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NET. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the fourth quarter valued at $43,000. Park Square Financial Group LLC purchased a new position in Cloudflare during the 4th quarter valued at about $56,000. Larson Financial Group LLC increased 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 purchasing an additional 517 shares during the period. CoreCap Advisors LLC lifted its position in shares of Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock worth $60,000 after purchasing an additional 380 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NET. Royal Bank of Canada reduced their target price on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. UBS Group boosted their target price on Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Cantor Fitzgerald upped their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price target on the stock in a report on Monday, May 12th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $141.79.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $156.72, for a total transaction of $4,018,300.80. Following the transaction, the insider now directly owns 6,390 shares in the company, valued at approximately $1,001,440.80. This represents a 80.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. In the last three months, insiders sold 511,913 shares of company stock valued at $66,395,593. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 2.4%

Shares of Cloudflare stock opened at $161.77 on Wednesday. The business has a 50 day moving average price of $124.25 and a 200 day moving average price of $123.24. The company has a market capitalization of $55.82 billion, a P/E ratio of -735.32 and a beta of 1.78. 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 1 year low of $66.24 and a 1 year high of $177.37.

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