Farringdon Capital Ltd. bought a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,922 shares of the company's stock, valued at approximately $315,000.
Other large investors have also recently added to or reduced their stakes in the company. Hartline Investment Corp increased its position in Cloudflare by 1.5% during the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock worth $28,464,000 after purchasing an additional 3,957 shares during the period. Birchcreek Wealth Management LLC purchased a new position in Cloudflare in the fourth quarter worth $215,000. Strategic Blueprint LLC acquired a new stake in Cloudflare in the fourth quarter valued at $265,000. Clarendon Private LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth $293,000. Finally, Savant Capital LLC acquired a new position in shares of Cloudflare during the 4th quarter worth $237,000. 82.68% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Cloudflare
In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company's stock, valued at approximately $21,403,676.25. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,613 shares of company stock worth $67,732,853. 12.83% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered their price target on Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus lifted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Oppenheimer began coverage on shares of Cloudflare in a report on Thursday, March 20th. They set an "outperform" rating and a $150.00 target price for the company. Needham & Company LLC reduced their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of "Hold" and a consensus price target of $134.84.
View Our Latest Stock Analysis on NET
Cloudflare Stock Up 5.1 %
Shares of NYSE:NET traded up $5.76 during mid-day trading on Thursday, hitting $118.56. 1,360,480 shares of the company traded hands, compared to its average volume of 3,977,926. The firm has a market cap of $40.91 billion, a P/E ratio of -538.64 and a beta of 1.59. 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 firm's 50 day simple moving average is $122.77 and its 200 day simple moving average is $114.76.
Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.
About Cloudflare
(
Free Report)
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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