Sterling Investment Advisors Ltd. Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Sterling Investment Advisors Ltd. purchased a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,018 shares of the company’s stock, valued at approximately $217,000.

Several other large investors also recently added to or reduced their stakes in the stock. Hartline Investment Corp grew its position in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after buying an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Cloudflare during the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the last quarter. National Pension Service grew its position in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in Cloudflare in the fourth quarter worth $265,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. This represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 558,918 shares of company stock valued at $68,709,509 over the last three months. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

NYSE NET opened at $147.92 on Tuesday. The company has a market capitalization of $50.76 billion, a PE ratio of -672.35 and a beta of 1.12. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s 50-day moving average price is $130.77 and its 200 day moving average price is $103.96.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NET shares. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Truist Financial boosted their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $136.28.

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.