Cloudflare, Inc. (NYSE:NET) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,950 shares of the company’s stock after buying an additional 1,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Cloudflare were worth $1,495,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Sunbelt Securities Inc. purchased a new position in Cloudflare during the first quarter worth about $29,000. Massmutual Trust Co. FSB ADV raised its holdings in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after purchasing an additional 514 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares in the last quarter. Fortis Group Advisors LLC purchased a new position in Cloudflare during the third quarter worth about $64,000. Finally, Harbour Investments Inc. raised its holdings in Cloudflare by 33.1% during the third quarter. Harbour Investments Inc. now owns 1,045 shares of the company’s stock worth $66,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 30,214 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total value of $2,297,170.42. Following the completion of the sale, the director now owns 1,539,316 shares in the company, valued at approximately $117,034,195.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $76.15, for a total transaction of $976,243.00. Following the transaction, the chief operating officer now owns 249,830 shares in the company, valued at approximately $19,024,554.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carl Ledbetter sold 30,214 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $76.03, for a total transaction of $2,297,170.42. Following the transaction, the director now owns 1,539,316 shares in the company, valued at approximately $117,034,195.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,113,937 shares of company stock worth $106,926,869. 14.80% of the stock is owned by corporate insiders.

Cloudflare Trading Down 2.4 %

Cloudflare stock opened at $93.76 on Monday. The firm has a 50 day simple moving average of $96.46 and a 200-day simple moving average of $81.16. 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 stock has a market capitalization of $31.66 billion, a PE ratio of -170.47 and a beta of 1.12. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NET shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 target price (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Royal Bank of Canada increased their target price on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Capital One Financial started coverage on shares of Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price for the company. Susquehanna increased their target price on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.50.

Cloudflare Company 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.