Ensign Peak Advisors Inc Has $30.84 Million Position in Cloudflare, Inc. (NYSE:NET)

Ensign Peak Advisors Inc boosted its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,399 shares of the company's stock after purchasing an additional 17,241 shares during the quarter. Ensign Peak Advisors Inc owned about 0.08% of Cloudflare worth $30,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares in the last quarter. CoreCap Advisors LLC increased its position in Cloudflare by 218.4% during the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock valued at $60,000 after purchasing an additional 380 shares during the period. GAMMA Investing LLC increased its position in 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 purchasing an additional 217 shares during the period. Whittier Trust Co. grew its position in shares of Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after buying an additional 329 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $65,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $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 sold a total of 492,492 shares of company stock valued at $63,757,685 over the last 90 days. Insiders own 12.83% of the company's stock.

Cloudflare Stock Performance

NET traded up $3.32 during trading on Wednesday, reaching $153.68. The company's stock had a trading volume of 4,486,106 shares, compared to its average volume of 3,135,567. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company's fifty day moving average price is $116.93 and its 200-day moving average price is $118.80. The company has a market capitalization of $53.03 billion, a price-to-earnings ratio of -698.55 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.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same period in the previous year, the company posted $0.16 EPS. Cloudflare's quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of a number of recent analyst reports. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Jefferies Financial Group decreased their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, May 9th. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada lowered their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $141.79.

About Cloudflare

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.