Aljian Capital Management LLC Purchases 5,240 Shares of Cloudflare, Inc. (NYSE:NET)

Aljian Capital Management LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 120.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,608 shares of the company's stock after acquiring an additional 5,240 shares during the quarter. Aljian Capital Management LLC's holdings in Cloudflare were worth $1,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Cloudflare by 164.7% during the fourth quarter. Jones Financial Companies Lllp now owns 5,024 shares of the company's stock worth $541,000 after acquiring an additional 3,126 shares in the last quarter. LPL Financial LLC raised its position in shares of Cloudflare by 3.4% in the fourth quarter. LPL Financial LLC now owns 122,171 shares of the company's stock valued at $13,155,000 after purchasing an additional 3,989 shares during the period. Wellington Management Group LLP raised its position in shares of Cloudflare by 47.0% in the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock valued at $639,000 after purchasing an additional 1,896 shares during the period. Yousif Capital Management LLC raised its position in shares of Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after purchasing an additional 98 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of Cloudflare in the first quarter valued at about $27,000. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Guggenheim increased their price objective on shares of Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and increased their price objective for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Morgan Stanley increased their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Oppenheimer restated an "outperform" rating and issued a $200.00 price target (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus price target of $145.92.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,270,941.48. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 515,987 shares of company stock worth $77,174,354. Corporate insiders own 10.89% of the company's stock.

Cloudflare Trading Up 1.9%

Shares of Cloudflare stock opened at $194.68 on Friday. The company has a market capitalization of $67.48 billion, a price-to-earnings ratio of -846.41 and a beta of 1.84. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $194.71. The firm's 50-day moving average price is $155.06 and its two-hundred day moving average price is $135.38.

Cloudflare (NYSE:NET - Get Free Report) last posted 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 4.62% and a negative return on equity of 6.31%. The company had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The company's revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.

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