LA Financiere DE L Echiquier Has $33.94 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

LA Financiere DE L Echiquier raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 407,600 shares of the company's stock after acquiring an additional 17,600 shares during the period. Cloudflare makes up about 1.6% of LA Financiere DE L Echiquier's investment portfolio, making the stock its 22nd largest position. LA Financiere DE L Echiquier owned 0.12% of Cloudflare worth $33,937,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter valued at $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Cloudflare during the third quarter valued at about $38,000. Providence Capital Advisors LLC lifted its position in shares of Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company's stock valued at $40,000 after buying an additional 2,426 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock valued at $45,000 after buying an additional 514 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock valued at $56,000 after buying an additional 848 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

NET stock traded down $0.83 during midday trading on Monday, reaching $95.33. The stock had a trading volume of 1,745,039 shares, compared to its average volume of 3,972,725. The company's fifty day simple moving average is $95.31 and its 200 day simple moving average is $80.11. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The company has a market cap of $32.19 billion, a price-to-earnings ratio of -173.32 and a beta of 1.13. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share 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 company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Capital One Financial began coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They set an "equal weight" rating and a $83.00 price target for the company. Needham & Company LLC upped their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 9th. Mizuho upped their price objective on shares of Cloudflare from $73.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Finally, Sanford C. Bernstein began coverage on shares of Cloudflare in a report on Thursday, January 18th. They set a "market perform" rating and a $85.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $87.50.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 7,970 shares of the firm's stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $82.35, for a total value of $656,329.50. Following the completion of the sale, the director now directly owns 1,569,530 shares of the company's stock, valued at approximately $129,250,795.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare news, Director Carl Ledbetter sold 7,970 shares of the firm's stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $82.35, for a total value of $656,329.50. Following the completion of the sale, the director now directly owns 1,569,530 shares of the company's stock, valued at approximately $129,250,795.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the sale, the chief financial officer now directly owns 243,495 shares of the company's stock, valued at $18,926,866.35. The disclosure for this sale can be found here. Insiders sold 972,985 shares of company stock valued at $93,393,755 in the last three months. 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.