Cloudflare, Inc. (NYSE:NET) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,796 shares of the company’s stock after buying an additional 787 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cloudflare were worth $732,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its holdings in Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after purchasing an additional 153 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Cloudflare by 61.5% in the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock valued at $90,000 after purchasing an additional 581 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Cloudflare by 377.1% in the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock valued at $1,749,000 after purchasing an additional 21,930 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Cloudflare by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 94,392 shares of the company’s stock valued at $5,950,000 after purchasing an additional 736 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Cloudflare by 9.0% in the third quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock valued at $3,588,000 after purchasing an additional 4,685 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Cloudflare stock opened at $87.98 on Friday. 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, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The stock’s fifty day moving average is $95.10 and its two-hundred day moving average is $82.53.

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

Insider Activity at Cloudflare

In related news, COO Michelle Zatlyn sold 277,376 shares of the 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 sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at $3,899,597.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Michelle Zatlyn sold 277,376 shares of the 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 sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at $3,899,597.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl Ledbetter sold 10,015 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total value of $892,937.40. Following the sale, the director now directly owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,046,356 shares of company stock valued at $101,906,480 over the last quarter. Insiders own 14.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. KeyCorp increased their price objective on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Capital One Financial began coverage on Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price objective for the company. Finally, DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.08.

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.