Cloudflare, Inc. (NYSE:NET) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its holdings in Cloudflare, Inc. (NYSE:NET) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,891 shares of the company’s stock after purchasing an additional 20,990 shares during the period. Royal London Asset Management Ltd.’s holdings in Cloudflare were worth $15,279,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP raised its position 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 purchasing an additional 133 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares in the last quarter. Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cloudflare by 59.0% during 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 in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter valued at approximately $54,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NET has been the topic of several research reports. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. DZ Bank lowered Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Oppenheimer assumed coverage on Cloudflare in a research report on Thursday. They set an “outperform” rating and a $150.00 price target on the stock. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $131.64.

Insider Activity at Cloudflare

In related news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,223,962.26. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 566,766 shares of company stock valued at $73,779,200 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Trading Up 0.9 %

Shares of NET stock opened at $118.95 on Friday. The stock has a 50-day simple moving average of $136.73 and a 200 day simple moving average of $110.01. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. 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 announced its 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.