RPG Investment Advisory LLC Purchases 838 Shares of Cloudflare, Inc. (NYSE:NET)

RPG Investment Advisory LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,855 shares of the company’s stock after purchasing an additional 838 shares during the period. Cloudflare comprises about 2.4% of RPG Investment Advisory LLC’s holdings, making the stock its 12th largest holding. RPG Investment Advisory LLC’s holdings in Cloudflare were worth $18,075,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Cloudflare during the third quarter worth about $38,000. Quarry LP lifted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Guggenheim boosted their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Mizuho boosted their price target on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Cantor Fitzgerald boosted their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $136.28.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 558,918 shares of company stock worth $68,709,509 in the last 90 days. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $151.83 on Monday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. The stock’s 50 day moving average is $130.11 and its 200 day moving average is $103.46. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

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

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.