Susquehanna Fundamental Investments LLC bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 79,627 shares of the company's stock, valued at approximately $8,574,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisory Resource Group raised its position in shares of Cloudflare by 1.6% in the third quarter. Advisory Resource Group now owns 12,611 shares of the company's stock worth $1,020,000 after buying an additional 195 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Cloudflare in the third quarter worth $1,268,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cloudflare in the third quarter worth $204,000. Tidal Investments LLC raised its position in shares of Cloudflare by 18.0% in the third quarter. Tidal Investments LLC now owns 23,238 shares of the company's stock worth $1,880,000 after buying an additional 3,550 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.
Cloudflare Stock Performance
NYSE NET traded down $1.36 during trading hours on Wednesday, hitting $120.87. 2,640,060 shares of the company's stock traded hands, compared to its average volume of 3,176,517. The business's fifty day moving average price is $118.68 and its two-hundred day moving average price is $115.94. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $41.71 billion, a P/E ratio of -549.41 and a beta of 1.59. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.
Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on NET. DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a report on Tuesday, February 11th. Needham & Company LLC dropped their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Guggenheim boosted their price objective on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research report on Friday, February 7th. JMP Securities boosted their target price on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. Finally, Piper Sandler reduced their price target on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Cloudflare has an average rating of "Hold" and a consensus price target of $134.84.
Read Our Latest Analysis on Cloudflare
Insider Buying and Selling
In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 506,973 shares of company stock worth $65,761,303. 12.83% of the stock is owned by insiders.
About Cloudflare
(
Free Report)
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.
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