AIA Group Ltd Has $1.46 Million Position in Cloudflare, Inc. (NYSE:NET)

AIA Group Ltd increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 55.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,504 shares of the company’s stock after purchasing an additional 6,244 shares during the quarter. AIA Group Ltd’s holdings in Cloudflare were worth $1,457,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Cloudflare during the first quarter valued at approximately $29,000. Providence Capital Advisors LLC raised its position in Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after acquiring an additional 514 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Cloudflare by 98.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after purchasing an additional 296 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $55,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NET shares. Royal Bank of Canada lifted their price target on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Mizuho dropped their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. KeyCorp lifted their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, JMP Securities boosted their target price on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus price target of $87.08.

Insider Activity

In other news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the sale, the director now owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carl Ledbetter sold 66,384 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the transaction, the director now owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,095,707 shares of company stock worth $106,154,633. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Stock Performance

NET opened at $86.16 on Friday. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm’s fifty day moving average price is $96.86 and its two-hundred day moving average price is $81.63.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.2 EPS 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.