40,000 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Alight Capital Management LP

Alight Capital Management LP acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 40,000 shares of the company's stock, valued at approximately $4,307,000. Cloudflare accounts for approximately 1.4% of Alight Capital Management LP's portfolio, making the stock its 21st largest position.

Other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its position in shares of Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company's stock worth $3,812,942,000 after acquiring an additional 260,415 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after purchasing an additional 68,661 shares in the last quarter. Groupama Asset Managment bought a new position in Cloudflare in the 4th quarter valued at approximately $269,200,000. Norges Bank bought a new stake in Cloudflare during the 4th quarter worth $249,544,000. Finally, American Century Companies Inc. lifted 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 worth $243,098,000 after purchasing an additional 1,017,399 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Janel Riley sold 4,327 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 28,635 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total value of $4,640,874.45. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at $47,580,834.74. The trade was a 8.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,492 shares of company stock worth $63,757,685. 12.83% of the stock is currently owned by insiders.

Cloudflare Stock Performance

NET traded up $0.41 on Monday, hitting $124.64. The company's stock had a trading volume of 2,836,441 shares, compared to its average volume of 3,094,129. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The firm has a market cap of $43.01 billion, a P/E ratio of -566.53 and a beta of 1.78. 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's 50 day simple moving average is $117.39 and its 200-day simple moving average is $116.94.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NET. Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $137.70.

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.