Kessler Investment Group LLC Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

Kessler Investment Group LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,413 shares of the company's stock, valued at approximately $6,362,000. Cloudflare makes up 3.9% of Kessler Investment Group LLC's portfolio, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Cloudflare by 1.5% in the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company's stock valued at $1,728,448,000 after buying an additional 395,363 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Cloudflare by 0.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company's stock worth $109,451,000 after acquiring an additional 14,984 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Cloudflare by 3.1% in the third quarter. Northern Trust Corp now owns 1,733,639 shares of the company's stock valued at $109,289,000 after purchasing an additional 51,345 shares in the last quarter. Deutsche Bank AG grew its position in shares of Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company's stock valued at $85,243,000 after purchasing an additional 65,596 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,682 shares of the company's stock worth $85,815,000 after purchasing an additional 47,175 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Down 2.0 %

NYSE NET traded down $1.44 on Friday, reaching $71.90. The company had a trading volume of 2,944,605 shares, compared to its average volume of 3,922,093. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a 1 year low of $48.19 and a 1 year high of $116.00. The firm has a 50-day moving average of $91.12 and a 200-day moving average of $83.87. The firm has a market capitalization of $24.28 billion, a PE ratio of -135.66 and a beta of 1.15.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The business had revenue of $362.47 million for the quarter, compared to analysts' expectations of $352.70 million. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on NET shares. Wells Fargo & Company lowered their target price on Cloudflare from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, May 3rd. Morgan Stanley boosted their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a research note on Monday, February 12th. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a "market perform" rating and a $85.00 price target on the stock. Capital One Financial began coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an "equal weight" rating and a $83.00 price objective for the company. Finally, TD Cowen decreased their target price on shares of Cloudflare from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $90.57.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 27,901 shares of Cloudflare stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $96.56, for a total value of $2,694,120.56. Following the completion of the transaction, the chief financial officer now directly owns 338,469 shares in the company, valued at $32,682,566.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Thomas J. Seifert sold 27,901 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $96.56, for a total transaction of $2,694,120.56. Following the sale, the chief financial officer now owns 338,469 shares in the company, valued at $32,682,566.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michelle Zatlyn sold 277,376 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the completion of the transaction, the chief operating officer now directly owns 38,545 shares in the company, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,115,298 shares of company stock valued at $104,795,772. 12.83% of the stock is currently owned by corporate insiders.

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.