Newbridge Financial Services Group Inc. Has $4.80 Million Holdings in Cloudflare, Inc. $NET

Newbridge Financial Services Group Inc. increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,364 shares of the company’s stock after purchasing an additional 4,602 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Cloudflare were worth $4,803,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NET. Groupama Asset Managment grew its stake in shares of Cloudflare by 82.6% during the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after purchasing an additional 950,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.6% during the third quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after purchasing an additional 821,684 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Cloudflare during the third quarter worth $138,660,000. Massachusetts Financial Services Co. MA grew its stake in shares of Cloudflare by 96.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after purchasing an additional 639,245 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Cloudflare by 176.8% during the second quarter. Federated Hermes Inc. now owns 527,134 shares of the company’s stock worth $103,229,000 after purchasing an additional 336,679 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of a number of research analyst reports. BTIG Research boosted their target price on Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. Royal Bank Of Canada boosted their target price on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $224.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Finally, New Street Research set a $140.00 target price on Cloudflare in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.38.

Insider Buying and Selling

In other news, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total value of $3,405,750.00. Following the sale, the director directly owned 938,073 shares in the company, valued at $212,989,474.65. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 10,341 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $212.30, for a total value of $2,195,394.30. Following the completion of the sale, the chief financial officer owned 224,625 shares in the company, valued at approximately $47,687,887.50. This trade represents a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 571,863 shares of company stock valued at $108,830,667. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Down 0.2%

NYSE:NET opened at $211.35 on Tuesday. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock has a market cap of $74.39 billion, a price-to-earnings ratio of -728.77 and a beta of 1.87. The stock has a 50-day moving average price of $193.83 and a two-hundred day moving average price of $202.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.