Cloudflare, Inc. (NYSE:NET) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1,605.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,062 shares of the company’s stock after purchasing an additional 9,472 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cloudflare were worth $1,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chesapeake Capital Corp IL purchased a new position in Cloudflare in the 4th quarter worth $349,000. Vinva Investment Management Ltd raised its stake in shares of Cloudflare by 18.2% in the fourth quarter. Vinva Investment Management Ltd now owns 15,287 shares of the company’s stock worth $1,667,000 after purchasing an additional 2,355 shares during the last quarter. Xponance Inc. raised its stake in shares of Cloudflare by 6.1% in the fourth quarter. Xponance Inc. now owns 55,406 shares of the company’s stock worth $5,966,000 after purchasing an additional 3,210 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Cloudflare by 4.9% during the fourth quarter. Intech Investment Management LLC now owns 14,242 shares of the company’s stock worth $1,534,000 after purchasing an additional 661 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in Cloudflare in the fourth quarter valued at approximately $1,133,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NET shares. Robert W. Baird restated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Needham & Company LLC decreased their target price on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. UBS Group cut their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley assumed coverage on Cloudflare in a report on Tuesday. They set an “overweight” rating on the stock. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $130.04.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the firm’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 owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 609,150 shares of company stock worth $78,440,970. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 2.1 %

NYSE NET opened at $117.48 on Thursday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The business’s fifty day simple moving average is $136.54 and its 200-day simple moving average is $109.42. The firm has a market cap of $40.54 billion, a PE ratio of -534.02 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.