Sphera Management Technology Funds Ltd Takes $959,000 Position in Cloudflare, Inc. (NYSE:NET)

Sphera Management Technology Funds Ltd bought a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,909 shares of the company's stock, valued at approximately $959,000.

Other large investors have also modified their holdings of the company. 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 raised its stake in Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock worth $60,000 after acquiring an additional 380 shares in the last quarter. Whittier Trust Co. raised its stake in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after acquiring an additional 329 shares in the last quarter. Sava Infond d.o.o. acquired a new position in Cloudflare during the fourth quarter worth $65,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Cloudflare during the fourth quarter worth $66,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective for the company in a research note on Monday, May 12th. Jefferies Financial Group lowered their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Friday, May 9th. Morgan Stanley raised their target price on Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Oppenheimer raised their target price on Cloudflare from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $141.79.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,279,290.07. The trade was a 11.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company's stock, valued at $35,229,840. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,297 shares of company stock worth $73,906,935 in the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

Shares of NYSE NET traded up $0.24 during midday trading on Friday, hitting $158.45. 1,675,613 shares of the company's stock were exchanged, compared to its average volume of 3,154,724. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company's 50 day moving average price is $122.55 and its 200 day moving average price is $122.11. The firm has a market capitalization of $54.68 billion, a PE ratio of -720.20 and a beta of 1.78.

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

Cloudflare 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.