9,852 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Duality Advisers LP

Duality Advisers LP bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,852 shares of the company's stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NET. Vanguard Group Inc. grew its stake in shares of Cloudflare by 1.5% during the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company's stock worth $1,728,448,000 after purchasing an additional 395,363 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Cloudflare in the fourth quarter valued at about $27,288,000. QRG Capital Management Inc. acquired a new position in Cloudflare in the third quarter valued at about $9,165,000. International Assets Investment Management LLC acquired a new position in Cloudflare in the fourth quarter valued at about $11,639,000. Finally, California Public Employees Retirement System grew its stake in Cloudflare by 24.9% in the third quarter. California Public Employees Retirement System now owns 523,856 shares of the company's stock valued at $33,024,000 after acquiring an additional 104,517 shares during the period. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NET shares. Wells Fargo & Company boosted their target price on Cloudflare from $95.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, February 9th. Morgan Stanley boosted their target price on Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a research note on Monday, February 12th. DZ Bank cut Cloudflare from a "buy" rating to a "hold" rating and set a $110.00 target price for the company. in a research note on Tuesday, February 13th. Mizuho decreased their target price on Cloudflare from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 15th. Finally, Sanford C. Bernstein initiated coverage on Cloudflare in a research note on Thursday, January 18th. They issued a "market perform" rating and a $85.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average price target of $87.08.

Insider Activity

In other news, CFO Thomas J. Seifert sold 50,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares of the company's stock, valued at $40,351,461.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company's stock, valued at $40,351,461.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 10,031 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $80.91, for a total value of $811,608.21. Following the sale, the director now directly owns 1,454,919 shares in the company, valued at approximately $117,717,496.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,046,356 shares of company stock valued at $101,906,480. 14.80% of the stock is owned by insiders.

Cloudflare Stock Performance

NYSE:NET traded down $0.92 on Thursday, hitting $86.76. The company's stock had a trading volume of 1,869,564 shares, compared to its average volume of 3,742,231. 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 stock has a fifty day moving average of $95.39 and a two-hundred day moving average of $82.50. The firm has a market capitalization of $29.30 billion, a P/E ratio of -157.75 and a beta of 1.12. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. Research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current 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.