SBI Securities Co. Ltd. Takes $1.15 Million Position in Cloudflare, Inc. (NYSE:NET)

SBI Securities Co. Ltd. purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,716 shares of the company’s stock, valued at approximately $1,154,000.

A number of other large investors have also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter worth $38,000. Quarry LP grew its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Versant Capital Management Inc boosted its position in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC grew its stake in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Cloudflare in the third quarter worth $54,000. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on NET shares. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a research report on Tuesday, February 18th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research report on Tuesday, February 11th. The Goldman Sachs Group raised their target price on Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, Guggenheim raised their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Trading Down 1.7 %

Shares of NYSE:NET opened at $142.88 on Tuesday. 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 stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of -649.45 and a beta of 1.12. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a 50 day moving average price of $133.31 and a 200 day moving average price of $105.77.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold 638,046 shares of company stock worth $81,243,344 in the last quarter. 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.