Interval Partners LP Buys New Shares in Cloudflare, Inc. (NYSE:NET)

Interval Partners LP bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,581 shares of the company's stock, valued at approximately $3,293,000.

Several other institutional investors also recently made changes to their positions in the stock. Groupama Asset Managment acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $269,200,000. Norges Bank bought a new stake in Cloudflare in the fourth quarter valued at $249,544,000. American Century Companies Inc. boosted its holdings in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after acquiring an additional 1,017,399 shares during the period. Fred Alger Management LLC increased its holdings in shares of Cloudflare by 856.3% in the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares during the period. Finally, Invesco Ltd. lifted its position in Cloudflare by 292.5% in the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after purchasing an additional 804,059 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $59,279,290.07. The trade was a 11.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 492,492 shares of company stock worth $63,757,685 over the last three months. Corporate insiders own 12.83% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, May 9th. DZ Bank cut 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. Scotiabank boosted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Susquehanna decreased their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a report on Monday. Finally, Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $141.79.

Cloudflare Stock Down 1.2%

NYSE NET traded down $1.91 during trading on Thursday, reaching $152.58. 2,940,920 shares of the company's stock were exchanged, compared to its average volume of 3,134,799. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company's fifty day simple moving average is $116.93 and its 200-day simple moving average is $118.80. The firm has a market capitalization of $52.65 billion, a PE ratio of -693.55 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current 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.