Board of the Pension Protection Fund Purchases Shares of 9,400 Cloudflare, Inc. (NYSE:NET)

Board of the Pension Protection Fund acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,400 shares of the company's stock, valued at approximately $1,059,000. Cloudflare accounts for about 1.2% of Board of the Pension Protection Fund's holdings, making the stock its 11th biggest position.

Several other large investors also recently made changes to their positions in the business. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC grew its position in Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Cloudflare during the fourth quarter worth $43,000. Finally, Global Financial Private Client LLC lifted its position in shares of Cloudflare by 38,100.0% during the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after purchasing an additional 381 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 41,556 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total value of $6,515,149.68. Following the completion of the sale, the chief financial officer now owns 241,550 shares in the company, valued at approximately $37,870,209. This represents a 14.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 515,987 shares of company stock valued at $77,174,354 in the last quarter. Company insiders own 10.89% of the company's stock.

Cloudflare Stock Up 0.4%

NYSE:NET opened at $190.91 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average of $153.32 and a 200-day moving average of $134.66. The firm has a market capitalization of $66.17 billion, a PE ratio of -830.06 and a beta of 1.84. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $192.46.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company's revenue for the quarter was up 26.5% compared to the same quarter last year. Analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NET. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Guggenheim raised their target price on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Friday, May 9th. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Susquehanna lowered their price objective on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Finally, Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cloudflare has an average rating of "Hold" and an average price target of $145.92.

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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