Asset Management One Co. Ltd. Acquires 11,992 Shares of Cloudflare, Inc. (NYSE:NET)

Asset Management One Co. Ltd. increased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,306 shares of the company's stock after acquiring an additional 11,992 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Cloudflare worth $18,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NET. Kingswood Wealth Advisors LLC raised its stake in shares of Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company's stock valued at $2,278,000 after acquiring an additional 132 shares in the last quarter. Quent Capital LLC raised its stake in shares of Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company's stock valued at $156,000 after acquiring an additional 140 shares in the last quarter. CWM LLC raised its stake in shares of Cloudflare by 3.4% in the 3rd quarter. CWM LLC now owns 4,624 shares of the company's stock valued at $291,000 after acquiring an additional 153 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Cloudflare by 2.9% in the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company's stock valued at $376,000 after acquiring an additional 166 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Cloudflare by 0.6% in the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company's stock valued at $2,565,000 after acquiring an additional 224 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Mizuho raised their price objective on Cloudflare from $73.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Truist Financial raised their target price on Cloudflare from $90.00 to $120.00 and gave the company a "buy" rating in a report on Friday, February 9th. Royal Bank of Canada raised their target price on Cloudflare from $95.00 to $108.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Susquehanna raised their target price on Cloudflare from $75.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Finally, Sanford C. Bernstein began coverage on Cloudflare in a report on Thursday, January 18th. They issued a "market perform" rating and a $85.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of "Hold" and a consensus target price of $87.50.

Cloudflare Stock Up 3.1 %

Shares of NYSE NET traded up $2.91 during mid-day trading on Friday, reaching $96.16. 2,737,611 shares of the company's stock were exchanged, compared to its average volume of 2,573,313. The business has a fifty day simple moving average of $95.09 and a 200 day simple moving average of $79.84. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of -174.83 and a beta of 1.12. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. As a group, equities analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 7,991 shares of the business's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $94.05, for a total transaction of $751,553.55. Following the transaction, the director now owns 1,267,013 shares of the company's stock, valued at approximately $119,162,572.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 7,991 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $94.05, for a total value of $751,553.55. Following the completion of the sale, the director now owns 1,267,013 shares of the company's stock, valued at $119,162,572.65. The disclosure for this sale can be found here. Insiders have sold 1,025,369 shares of company stock valued at $97,520,567 in the last 90 days. 14.80% of the stock is currently owned by insiders.

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.