Bearing Point Capital LLC Invests $3.08 Million in Cloudflare, Inc. (NYSE:NET)

Bearing Point Capital LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,556 shares of the company's stock, valued at approximately $3,075,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc boosted its stake 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new position in shares of Cloudflare during the fourth quarter valued at $65,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Up 1.3 %

NET opened at $124.26 on Friday. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of -564.82 and a beta of 1.78. 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 firm's fifty day moving average is $117.80 and its 200 day moving average is $116.52. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.52% and a negative net margin of 4.72%. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Robert W. Baird restated a "neutral" rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Oppenheimer started coverage on shares of Cloudflare in a research note on Thursday, March 20th. They set an "outperform" rating and a $150.00 target price for the company. Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and increased their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $137.70.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total transaction of $5,284,497.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 509,973 shares of company stock worth $66,133,783. 12.83% of the stock is owned by 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.

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