Certuity LLC Acquires 331 Shares of Cloudflare, Inc. (NYSE:NET)

Certuity LLC increased its holdings in Cloudflare, Inc. (NYSE:NET) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,880 shares of the company’s stock after acquiring an additional 331 shares during the period. Certuity LLC’s holdings in Cloudflare were worth $310,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the period. Swiss National Bank raised its stake in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares in the last quarter. National Pension Service lifted its holdings in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in Cloudflare by 16.8% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock valued at $42,602,000 after acquiring an additional 56,906 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $17,115,283.62. This represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 581,354 shares of company stock worth $64,625,120. Insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NET. Morgan Stanley increased their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. JMP Securities increased their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Mizuho increased their price target on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $135.28.

Cloudflare Price Performance

Shares of NYSE:NET opened at $172.78 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market cap of $59.30 billion, a price-to-earnings ratio of -785.36 and a beta of 1.12. The business has a 50-day simple moving average of $122.83 and a two-hundred day simple moving average of $98.96. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $176.73.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, analysts expect that Cloudflare, Inc. will post -0.04 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.