BNP Paribas Makes New Investment in Cloudflare, Inc. (NYSE:NET)

BNP Paribas bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,580 shares of the company's stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NET. CreativeOne Wealth LLC raised its stake in Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after buying an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after acquiring an additional 77 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after purchasing an additional 94 shares during the period. Baxter Bros Inc. boosted its position in shares of Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock worth $293,000 after purchasing an additional 105 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Scotiabank increased their price target on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 16th. Needham & Company LLC decreased their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. UBS Group dropped their price objective on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler reduced their target price on Cloudflare from $131.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $137.70.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the firm'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 completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock worth $63,757,685 over the last ninety days. Insiders own 12.83% of the company's stock.

Cloudflare Price Performance

NET traded down $0.43 on Wednesday, reaching $121.86. The company had a trading volume of 2,140,568 shares, compared to its average volume of 3,070,265. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a market cap of $42.05 billion, a price-to-earnings ratio of -553.90 and a beta of 1.78. The business has a 50 day simple moving average of $116.55 and a 200 day simple moving average of $117.02.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.