Capital Group Investment Management PTE. LTD. Buys 496 Shares of Cloudflare, Inc. (NYSE:NET)

Capital Group Investment Management PTE. LTD. raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,758 shares of the company’s stock after purchasing an additional 496 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Cloudflare were worth $2,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Larson Financial Group LLC increased its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares in the last quarter. Whittier Trust Co. boosted its holdings in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after buying an additional 329 shares during the period. Finally, Sava Infond d.o.o. purchased a new stake in Cloudflare in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold 579,389 shares of company stock valued at $74,559,343 in the last quarter. 12.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NET has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Cloudflare from $131.00 to $112.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus upped their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Oppenheimer initiated coverage on shares of Cloudflare in a research report on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective on the stock. UBS Group dropped their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.84.

Cloudflare Price Performance

NET stock opened at $107.81 on Friday. The stock has a market cap of $37.20 billion, a PE ratio of -490.03 and a beta of 1.59. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a 50-day moving average price of $129.32 and a 200 day moving average price of $113.82. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Cloudflare, Inc. will post -0.11 earnings per share 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.