International Assets Investment Management LLC Takes $11.64 Million Position in Cloudflare, Inc. (NYSE:NET)

International Assets Investment Management LLC acquired a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 139,794 shares of the company’s stock, valued at approximately $11,639,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NET. LA Financiere DE L Echiquier raised its position in shares of Cloudflare by 4.5% during the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after buying an additional 17,600 shares in the last quarter. Moseley Investment Management Inc. bought a new stake in Cloudflare during the fourth quarter worth about $243,000. Bleakley Financial Group LLC purchased a new position in shares of Cloudflare in the 4th quarter worth about $262,000. TFC Financial Management Inc. increased its position in shares of Cloudflare by 45.5% during the 4th quarter. TFC Financial Management Inc. now owns 1,470 shares of the company’s stock valued at $122,000 after purchasing an additional 460 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Cloudflare by 5.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,950 shares of the company’s stock valued at $1,495,000 after buying an additional 1,000 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other news, COO Michelle Zatlyn sold 277,376 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the transaction, the chief operating officer now owns 38,545 shares in the company, valued at $3,899,597.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Michelle Zatlyn sold 277,376 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the transaction, the chief operating officer now directly owns 38,545 shares of the company’s stock, valued at $3,899,597.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 6,000 shares of Cloudflare stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now owns 216,114 shares of the company’s stock, valued at $23,789,829.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,029,347 shares of company stock worth $100,594,226. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 16.4 %

Shares of Cloudflare stock opened at $74.40 on Monday. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of -140.38 and a beta of 1.15. The company has a 50-day moving average of $93.67 and a 200 day moving average of $83.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NET. JMP Securities increased their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Susquehanna lifted their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Mizuho cut their price target on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Capital One Financial started coverage on Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price objective on the stock. Finally, Sanford C. Bernstein began coverage on Cloudflare in a report on Thursday, January 18th. They set a “market perform” rating and a $85.00 target price for the company. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $90.17.

Cloudflare 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.