6,515 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Clare Market Investments LLC

Clare Market Investments LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,515 shares of the company’s stock, valued at approximately $702,000.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after purchasing an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after purchasing an additional 63,945 shares during the period. Swiss National Bank raised its stake in Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after purchasing an additional 2,483 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Down 3.4 %

Shares of NYSE:NET opened at $126.57 on Monday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a market cap of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27. The company’s 50-day moving average price is $135.81 and its 200 day moving average price is $107.51. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

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

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,503,393.68. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the sale, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 623,046 shares of company stock worth $79,594,844. 12.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NET. Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Scotiabank increased their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Susquehanna increased their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare 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.