Prime Capital Investment Advisors LLC Acquires 338 Shares of Cloudflare, Inc. (NYSE:NET)

Prime Capital Investment Advisors LLC grew its holdings in Cloudflare, Inc. (NYSE:NET) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,708 shares of the company’s stock after acquiring an additional 338 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Cloudflare were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. National Pension Service increased its stake in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cloudflare during the second quarter worth $7,319,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after acquiring an additional 149,866 shares during the period. Proactive Wealth Strategies LLC bought a new stake in Cloudflare in the 3rd quarter valued at $940,000. Finally, Comerica Bank boosted its stake in Cloudflare by 19.9% in the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock worth $2,765,000 after purchasing an additional 4,733 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

NYSE NET opened at $89.79 on Friday. The stock has a market cap of $30.68 billion, a PE ratio of -345.33 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a 50-day moving average of $86.12 and a 200-day moving average of $80.88. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NET shares. Robert W. Baird lifted their price target on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. UBS Group lifted their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Piper Sandler lifted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.88.

Insider Activity at Cloudflare

In related news, COO Michelle Zatlyn sold 35,117 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $83.74, for a total value of $2,940,697.58. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $16,092,901.98. The trade was a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the completion of the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 578,316 shares of company stock worth $49,124,681 in the last ninety days. 12.83% of the stock is owned by company insiders.

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.