Cloudflare, Inc. $NET Shares Bought by Lbp Am Sa

Key Points

• Lbp Am Sa increased its Cloudflare stake by 65.3% in Q4, buying 28,904 shares to hold 73,150 shares valued at about $14.42M, and institutional investors now own 82.68% of the stock.
• Company insiders sold a total of 572,965 shares worth roughly $111.41M in the last quarter (including sales by CFO Thomas Seifert and Michelle Zatlyn), leaving insiders with 10.89% ownership.
• Analysts give Cloudflare a consensus "Moderate Buy" rating with a $232.62 price target; the firm beat Q4 revenue ($614.5M) and EPS ($0.28) but still shows a negative net margin and return on equity.

Lbp Am Sa lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 65.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,150 shares of the company's stock after purchasing an additional 28,904 shares during the quarter. Lbp Am Sa's holdings in Cloudflare were worth $14,422,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NET. Empowered Funds LLC lifted its position in Cloudflare by 34.2% during the first quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock worth $750,000 after buying an additional 1,696 shares during the period. Sivia Capital Partners LLC acquired a new stake in Cloudflare in the 2nd quarter worth about $424,000. Cerity Partners LLC grew its holdings in Cloudflare by 30.1% in the 2nd quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock valued at $5,391,000 after buying an additional 6,363 shares during the period. Sei Investments Co. grew its holdings in Cloudflare by 40.1% in the 2nd quarter. Sei Investments Co. now owns 329,036 shares of the company's stock valued at $64,432,000 after buying an additional 94,112 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Cloudflare by 14.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock valued at $3,224,000 after acquiring an additional 2,093 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NET. KeyCorp lowered shares of Cloudflare from an "overweight" rating to a "hold" rating in a report on Wednesday. Barclays upped their price target on shares of Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 11th. Jefferies Financial Group began coverage on shares of Cloudflare in a research note on Wednesday. They set a "buy" rating on the stock. Zacks Research upgraded shares of Cloudflare from a "strong sell" rating to a "hold" rating in a report on Friday, March 13th. Finally, The Goldman Sachs Group cut shares of Cloudflare from a "buy" rating to a "sell" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Cloudflare presently has an average rating of "Moderate Buy" and a consensus price target of $232.62.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,341 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $212.30, for a total value of $2,195,394.30. Following the completion of the sale, the chief financial officer owned 224,625 shares of the company's stock, valued at $47,687,887.50. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $189.50, for a total value of $4,858,969.50. Following the completion of the sale, the insider owned 34,514 shares of the company's stock, valued at approximately $6,540,403. This trade represents a 42.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 572,965 shares of company stock worth $111,409,912 in the last quarter. Insiders own 10.89% of the company's stock.

Cloudflare Stock Up 3.8%

NET opened at $197.32 on Friday. Cloudflare, Inc. has a 1 year low of $100.25 and a 1 year high of $260.00. The firm has a 50 day moving average price of $195.94 and a 200 day moving average price of $201.13. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $69.45 billion, a PE ratio of -680.38 and a beta of 1.87.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm had revenue of $614.51 million for the quarter, compared to analysts' expectations of $591.67 million. During the same period in the previous year, the company posted $0.19 earnings per share. Cloudflare's revenue was up 33.6% compared to the same quarter last year. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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