Black Swift Group LLC Invests $1.62 Million in Cloudflare, Inc. (NYSE:NET)

Black Swift Group LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,350 shares of the company's stock, valued at approximately $1,617,000.

A number of other hedge funds also recently modified their holdings of NET. GAMMA Investing LLC raised its stake in Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after buying an additional 508 shares during the last quarter. LPL Financial LLC boosted its position in shares of Cloudflare by 3.4% during the 4th 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 in the last quarter. Crossmark Global Holdings Inc. grew its stake in Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares during the period. Amalgamated Bank lifted its stake in Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock valued at $2,412,000 after buying an additional 1,400 shares during the period. Finally, Wellington Management Group LLP lifted its stake in 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 buying an additional 1,896 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of research reports. KeyCorp assumed coverage on Cloudflare in a research note on Friday, June 6th. They set an "overweight" rating and a $210.00 price target on the stock. DZ Bank cut Cloudflare from a "strong-buy" rating to a "strong sell" rating and set a $170.00 target price on the stock. in a report on Tuesday. UBS Group upped their price objective on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group dropped their price target on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.92.

Cloudflare Stock Performance

NET traded up $6.91 on Friday, hitting $198.49. The company's stock had a trading volume of 2,697,032 shares, compared to its average volume of 3,709,947. Cloudflare, Inc. has a 12 month low of $69.26 and a 12 month high of $200.76. The firm has a market cap of $68.80 billion, a P/E ratio of -863.00 and a beta of 1.85. 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 company's 50 day simple moving average is $179.27 and its 200-day simple moving average is $145.43.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the previous year, the business earned $0.16 earnings per share. Cloudflare's revenue was up 26.5% on a year-over-year basis. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $198.13, for a total transaction of $1,981,300.00. Following the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $47,858,301.50. This represents a 3.98% decrease in their position. The transaction was disclosed in a legal filing 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 on Thursday, July 10th. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the completion of the transaction, the chief executive officer directly owned 381,213 shares of the company's stock, valued at approximately $70,364,295.54. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 615,332 shares of company stock valued at $106,709,878. Company insiders own 10.89% of the company's stock.

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.