Signaturefd LLC Grows Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Signaturefd LLC raised its stake in Cloudflare, Inc. (NYSE:NET) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,211 shares of the company’s stock after purchasing an additional 124 shares during the quarter. Signaturefd LLC’s holdings in Cloudflare were worth $1,099,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NET. Apollon Wealth Management LLC boosted its holdings in shares of Cloudflare by 9.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after purchasing an additional 269 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Cloudflare by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 3,786 shares of the company’s stock valued at $306,000 after purchasing an additional 183 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Cloudflare by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after purchasing an additional 137 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Cloudflare by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,629 shares of the company’s stock valued at $860,000 after purchasing an additional 545 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Cloudflare by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock valued at $354,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

NET opened at $114.99 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a 50-day moving average of $136.54 and a 200-day moving average of $109.42. The company has a market capitalization of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group decreased their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Guggenheim lifted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Mizuho reduced their target price on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Susquehanna lifted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $130.04.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,204,267.80. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 504,382 shares of company stock valued at $66,194,115 in the last quarter. Insiders own 12.83% of the company’s stock.

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.