Cloudflare, Inc. (NYSE:NET) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 216,081 shares of the company's stock after purchasing an additional 23,700 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.06% of Cloudflare worth $23,267,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hartline Investment Corp increased its stake in shares of Cloudflare by 1.5% during the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock valued at $28,464,000 after buying an additional 3,957 shares during the period. Birchcreek Wealth Management LLC bought a new position in Cloudflare during the 4th quarter worth about $215,000. Strategic Blueprint LLC purchased a new position in Cloudflare during the 4th quarter valued at about $265,000. Clarendon Private LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at about $293,000. Finally, Savant Capital LLC bought a new position in Cloudflare in the fourth quarter worth approximately $237,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $109.03, for a total transaction of $2,795,529.20. Following the transaction, the insider now owns 413,413 shares in the company, valued at $45,074,419.39. This trade represents a 5.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 496,973 shares of company stock valued at $64,559,903. 12.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent research reports. Oppenheimer began coverage on shares of Cloudflare in a report on Thursday, March 20th. They issued an "outperform" rating and a $150.00 target price for the company. The Goldman Sachs Group decreased their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Stifel Nicolaus lifted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Piper Sandler decreased their price objective on Cloudflare from $131.00 to $112.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare has an average rating of "Hold" and a consensus price target of $134.84.

Cloudflare Stock Performance

Cloudflare stock traded up $2.16 during mid-day trading on Friday, hitting $121.03. The company had a trading volume of 2,594,194 shares, compared to its average volume of 3,188,386. 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 company has a market capitalization of $41.76 billion, a price-to-earnings ratio of -550.14 and a beta of 1.59. The company's fifty day moving average is $120.78 and its 200-day moving average is $115.30. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

About Cloudflare

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.