Cloudflare, Inc. (NYSE:NET) Holdings Raised by Signaturefd LLC

Signaturefd LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,261 shares of the company’s stock after acquiring an additional 565 shares during the period. Signaturefd LLC’s holdings in Cloudflare were worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Powell Investment Advisors LLC acquired a new position in Cloudflare in the 4th quarter worth about $257,000. Lindbrook Capital LLC increased its holdings in Cloudflare by 49.5% in the fourth quarter. Lindbrook Capital LLC now owns 948 shares of the company’s stock worth $79,000 after buying an additional 314 shares during the last quarter. abrdn plc raised its position in Cloudflare by 104.0% during the fourth quarter. abrdn plc now owns 99,685 shares of the company’s stock valued at $8,300,000 after acquiring an additional 50,819 shares in the last quarter. AIA Group Ltd lifted its stake in Cloudflare by 55.5% in the fourth quarter. AIA Group Ltd now owns 17,504 shares of the company’s stock valued at $1,457,000 after acquiring an additional 6,244 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in Cloudflare in the fourth quarter worth approximately $953,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NYSE:NET opened at $87.86 on Wednesday. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The firm has a 50-day moving average of $95.96 and a 200-day moving average of $82.29.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the transaction, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at $29,453,572.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Carl Ledbetter sold 10,031 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total value of $811,608.21. Following the transaction, the director now directly owns 1,454,919 shares of the company’s stock, valued at approximately $117,717,496.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. Insiders sold a total of 1,036,341 shares of company stock worth $101,013,542 in the last quarter. 14.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NET shares. JMP Securities upped their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Morgan Stanley upped their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Needham & Company LLC lifted their price target on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Mizuho dropped their price objective on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Finally, Susquehanna upped their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $87.08.

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.