Alfreton Capital LLP Takes $48.46 Million Position in Cloudflare, Inc. (NYSE:NET)

Key Points

• Alfreton Capital LLP has acquired a $48.46 million stake in Cloudflare, Inc. (NYSE:NET), with 430,000 shares making up 15.4% of its investment portfolio.
• Cloudflare recently reported a 27.8% year-over-year revenue increase to $512.32 million and exceeded earnings per share estimates, achieving $0.21 against an expectation of $0.18.
• Analysts have raised their price targets for Cloudflare, with Mizuho and KeyCorp increasing their targets to $240.00 and $235.00, respectively, suggesting strong investor confidence in the company's growth.

Alfreton Capital LLP acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 430,000 shares of the company's stock, valued at approximately $48,457,000. Cloudflare makes up approximately 15.4% of Alfreton Capital LLP's investment portfolio, making the stock its 4th largest position. Alfreton Capital LLP owned approximately 0.12% of Cloudflare as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. bought a new stake in Cloudflare during the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC raised its holdings in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

Shares of NYSE:NET opened at $200.46 on Friday. The firm's 50 day moving average price is $184.49 and its 200-day moving average price is $149.29. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $211.27. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $69.48 billion, a PE ratio of -589.59 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.59%. The firm had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. During the same quarter in the prior year, the business earned $0.20 EPS. The business's quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the sale, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $190.68, for a total transaction of $4,889,225.88. Following the sale, the insider owned 6,390 shares in the company, valued at approximately $1,218,445.20. The trade was a 80.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 688,062 shares of company stock worth $121,498,887 in the last 90 days. Insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

NET has been the subject of several research reports. Mizuho upped their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday. KeyCorp upped their price objective on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday. Royal Bank Of Canada upped their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday. Cowen restated a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Finally, Morgan Stanley upped their price objective on shares of Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $186.88.

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.

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