Accel Wealth Management Makes New $202,000 Investment in Cloudflare, Inc. (NYSE:NET)

Accel Wealth Management acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,432 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors have also made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in Cloudflare in the first quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV grew its position in shares of Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after acquiring an additional 514 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in shares of Cloudflare in the 3rd quarter valued at about $38,000. Harvest Fund Management Co. Ltd grew its position in shares of Cloudflare by 2,422.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after acquiring an additional 848 shares during the period. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth about $64,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Up 0.2 %

NET traded up $0.23 during trading on Thursday, hitting $96.78. 1,698,630 shares of the company’s stock were exchanged, compared to its average volume of 4,138,791. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average is $93.17 and its two-hundred day moving average is $78.14. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The stock has a market cap of $32.68 billion, a P/E ratio of -175.27 and a beta of 1.14.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, equities analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NET. JMP Securities raised their target price on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Mizuho boosted their target price on shares of Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Tuesday, February 13th. Finally, Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.50.

Insider Transactions at Cloudflare

In related news, Director Carl Ledbetter sold 9,993 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $100.16, for a total transaction of $1,000,898.88. Following the completion of the transaction, the director now owns 1,275,004 shares in the company, valued at $127,704,400.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Carl Ledbetter sold 9,993 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $100.16, for a total transaction of $1,000,898.88. Following the completion of the transaction, the director now owns 1,275,004 shares in the company, valued at $127,704,400.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $81.43, for a total transaction of $244,290.00. Following the transaction, the general counsel now owns 154,629 shares of the company’s stock, valued at approximately $12,591,439.47. The disclosure for this sale can be found here. Insiders sold a total of 1,079,809 shares of company stock worth $101,239,047 in the last quarter. 14.80% of the stock is currently owned by corporate insiders.

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.