Accel Wealth Management Makes New $206,000 Investment in Cloudflare, Inc. (NYSE:NET)

Accel Wealth Management bought a new position in Cloudflare, Inc. (NYSE:NET) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,830 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Cloudflare in the 1st quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 142 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cloudflare in the 4th quarter valued at about $43,000. Global Financial Private Client LLC grew its position in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after buying an additional 381 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NET. Bank of America upgraded Cloudflare from an “underperform” rating to a “buy” rating and upped their price target for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Cantor Fitzgerald upped their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. CICC Research upgraded 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. Royal Bank of Canada cut their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Capital One Financial upgraded Cloudflare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. Three equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $141.79.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.00, for a total transaction of $498,000.00. Following the completion of the sale, the insider now owns 169,377 shares of the company’s stock, valued at approximately $28,116,582. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 41,556 shares of Cloudflare stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total value of $6,515,149.68. Following the sale, the chief financial officer now directly owns 241,550 shares of the company’s stock, valued at $37,870,209. This represents a 14.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 504,085 shares of company stock valued at $65,810,967 over the last three months. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock opened at $170.65 on Thursday. Cloudflare, Inc. has a one year low of $68.16 and a one year high of $177.37. The business has a fifty day moving average price of $129.87 and a 200-day moving average price of $126.16. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $59.15 billion, a P/E ratio of -775.68 and a beta of 1.78.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS 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 company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the previous year, the business earned $0.16 earnings per share. Cloudflare’s revenue was up 26.5% on a year-over-year basis. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

About Cloudflare

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.