Premier Path Wealth Partners LLC Has $262,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Premier Path Wealth Partners LLC boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,323 shares of the company’s stock after acquiring an additional 306 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Cloudflare were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC lifted its position in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after purchasing an additional 58 shares during the period. Yousif Capital Management LLC raised its stake in shares of Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock worth $447,000 after buying an additional 98 shares during the last quarter. Baxter Bros Inc. lifted its holdings in Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after buying an additional 100 shares during the period. Ellevest Inc. boosted its stake in Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the transaction, the insider now owns 413,413 shares of the company’s stock, valued at $54,095,091.05. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $35,270,941.48. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 557,267 shares of company stock valued at $81,730,346. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $179.27 on Friday. The firm has a market cap of $62.14 billion, a PE ratio of -779.42 and a beta of 1.84. Cloudflare, Inc. has a 12 month low of $69.26 and a 12 month high of $184.85. The company’s fifty day simple moving average is $146.95 and its 200-day simple moving average is $132.57. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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 net margin of 4.62% and a negative return on equity of 6.31%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the previous year, the business earned $0.16 EPS. Cloudflare’s revenue was up 26.5% on a year-over-year basis. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NET shares. UBS Group increased their price target on Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Needham & Company LLC increased their target price on Cloudflare from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Morgan Stanley boosted their target price on Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. KeyCorp assumed coverage on shares of Cloudflare in a research report on Friday, June 6th. They issued an “overweight” rating and a $210.00 price target on the stock. Finally, Susquehanna reduced their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $145.92.

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.