Charles Schwab Investment Management Inc. Has $85.82 Million Stake in Cloudflare, Inc. (NYSE:NET)

Charles Schwab Investment Management Inc. grew its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,030,682 shares of the company's stock after acquiring an additional 47,175 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.31% of Cloudflare worth $85,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in Cloudflare during the 4th quarter worth $39,000. Massmutual Trust Co. FSB ADV grew its stake in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock valued at $45,000 after purchasing an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company's stock valued at $50,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC purchased a new stake in Cloudflare during the 4th quarter valued at about $55,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock valued at $56,000 after purchasing an additional 848 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Down 0.3 %

Shares of NET stock traded down $0.21 on Tuesday, hitting $73.36. 1,915,135 shares of the stock traded hands, compared to its average volume of 3,888,375. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a twelve month low of $49.10 and a twelve month high of $116.00. The firm's 50-day moving average price is $90.13 and its two-hundred day moving average price is $84.49. The stock has a market capitalization of $24.93 billion, a PE ratio of -138.42 and a beta of 1.15.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $72.51, for a total value of $3,798,363.84. Following the completion of the sale, the chief executive officer now owns 230,612 shares of the company's stock, valued at approximately $16,721,676.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at approximately $16,721,676.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $28,062,129.92. Following the sale, the chief operating officer now directly owns 38,545 shares of the company's stock, valued at $3,899,597.65. The disclosure for this sale can be found here. Insiders have sold 1,115,298 shares of company stock valued at $104,795,772 over the last ninety days. Company insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NET. Needham & Company LLC reiterated a "buy" rating and set a $135.00 price target on shares of Cloudflare in a research note on Friday, May 3rd. UBS Group decreased their price objective on Cloudflare from $88.00 to $76.00 and set a "sell" rating for the company in a report on Friday, May 3rd. Citigroup decreased their price objective on Cloudflare from $95.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 9th. Bank of America upped their price target on Cloudflare from $52.00 to $60.00 and gave the stock an "underperform" rating in a report on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on Cloudflare from $89.00 to $77.00 and set a "sell" rating for the company in a report on Monday, May 6th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $91.87.

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.