Triglav Skladi D.O.O. Purchases New Shares in Cloudflare, Inc. (NYSE:NET)

Triglav Skladi D.O.O. acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,000 shares of the company's stock, valued at approximately $969,000.

Several other hedge funds also recently modified their holdings of NET. Brookstone Capital Management bought a new position in shares of Cloudflare in the 4th quarter worth $304,000. Assenagon Asset Management S.A. raised its holdings in Cloudflare by 38.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company's stock worth $515,000 after buying an additional 1,326 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Cloudflare by 28.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company's stock valued at $679,000 after buying an additional 1,390 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at about $217,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Cloudflare during the fourth quarter worth about $213,000. Institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NET shares. Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Needham & Company LLC upped their price target on Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Piper Sandler reiterated a "neutral" rating and issued a $151.00 price objective (up from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Guggenheim upped their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Finally, Susquehanna decreased their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $141.79.

Cloudflare Trading Up 1.0%

Cloudflare stock traded up $1.55 during midday trading on Thursday, hitting $158.07. 2,082,883 shares of the stock were exchanged, compared to its average volume of 3,157,224. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $54.54 billion, a price-to-earnings ratio of -718.49 and a beta of 1.78. The stock's 50-day simple moving average is $120.84 and its 200 day simple moving average is $121.13. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share 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 for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Cloudflare's revenue was up 26.5% on a year-over-year basis. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the sale, the chief executive officer now directly owns 10,426 shares in the company, valued at approximately $1,591,841.68. The trade was a 83.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. Insiders sold 529,199 shares of company stock worth $68,401,233 over the last 90 days. 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.