MassMutual Private Wealth & Trust FSB Boosts Stock Holdings in Cloudflare, Inc. (NYSE:NET)

MassMutual Private Wealth & Trust FSB lifted its position in Cloudflare, Inc. (NYSE:NET) by 115.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265 shares of the company’s stock after buying an additional 142 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Cloudflare were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Avant Financial Advisors LLC purchased a new position in shares of Cloudflare in the 4th quarter worth approximately $258,000. Wellington Management Group LLP grew its position in shares of Cloudflare by 47.0% in the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock worth $639,000 after buying an additional 1,896 shares during the last quarter. Thoma Capital Management LLC purchased a new position in shares of Cloudflare in the 4th quarter worth approximately $720,000. Wealth Enhancement Advisory Services LLC grew its position in Cloudflare by 22.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company’s stock worth $3,301,000 after purchasing an additional 5,638 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in Cloudflare during the 4th quarter worth approximately $10,499,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 2,311 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $44,545,250.75. This represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $166.00, for a total transaction of $498,000.00. Following the sale, the insider now directly owns 169,377 shares of the company’s stock, valued at approximately $28,116,582. This represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 504,085 shares of company stock worth $65,810,967 in the last 90 days. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the topic of several research analyst reports. CICC Research raised shares of Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price on the stock in a research report on Monday, May 12th. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Susquehanna decreased their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, May 12th. DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. Finally, Needham & Company LLC lifted their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.79.

Cloudflare Stock Up 1.8%

NET opened at $172.69 on Wednesday. Cloudflare, Inc. has a twelve month low of $67.01 and a twelve month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $128.75 and a 200 day moving average price of $125.85. The company has a market cap of $59.86 billion, a PE ratio of -784.95 and a beta of 1.78.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share 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.