Cloudflare, Inc. (NYSE:NET) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 709,592 shares of the company's stock after buying an additional 21,414 shares during the quarter. Nuveen Asset Management LLC owned 0.21% of Cloudflare worth $76,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NET. Capital World Investors lifted its holdings in Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock worth $3,812,942,000 after buying an additional 260,415 shares during the period. Geode Capital Management LLC boosted its position in Cloudflare by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after purchasing an additional 68,661 shares in the last quarter. Groupama Asset Managment purchased a new position in Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank bought a new position in Cloudflare in the fourth quarter worth about $249,544,000. Finally, American Century Companies Inc. lifted its position in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Down 0.2%

NYSE NET traded down $0.26 on Tuesday, hitting $157.26. 2,705,000 shares of the stock traded hands, compared to its average volume of 3,152,581. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average of $120.03 and a 200 day moving average of $120.89. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a market capitalization of $54.27 billion, a P/E ratio of -714.82 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business's revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NET. Robert W. Baird restated a "neutral" rating and set a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Cantor Fitzgerald raised their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Truist Financial lifted their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. DZ Bank downgraded Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Finally, Needham & Company LLC raised their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and an average price target of $141.79.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 2,311 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $44,545,250.75. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 592,933 shares of company stock valued at $78,827,827 in the last quarter. Insiders own 12.83% of the company's stock.

Cloudflare 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.