Maytus Capital Management LLC Purchases 10,000 Shares of Cloudflare, Inc. (NYSE:NET)

Maytus Capital Management LLC increased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Cloudflare makes up approximately 2.6% of Maytus Capital Management LLC's holdings, making the stock its 11th largest holding. Maytus Capital Management LLC's holdings in Cloudflare were worth $7,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC boosted its stake in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after purchasing an additional 517 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Cloudflare by 218.4% in the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock worth $60,000 after acquiring an additional 380 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. Whittier Trust Co. grew its stake in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the period. Finally, Sava Infond d.o.o. purchased a new position in Cloudflare during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. CICC Research upgraded shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a report on Monday. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 16th. UBS Group lifted their price target on Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research report on Friday. Stifel Nicolaus increased their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Capital One Financial raised shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $141.79.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $59,279,290.07. The trade was a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock worth $63,757,685 in the last ninety days. 12.83% of the stock is owned by insiders.

Cloudflare Stock Up 7.6%

Shares of NYSE NET opened at $142.35 on Tuesday. 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 company has a 50-day moving average of $115.99 and a 200 day moving average of $118.33. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market cap of $49.12 billion, a PE ratio of -647.03 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business's quarterly revenue was up 26.5% compared to the same quarter last year. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.

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