Lountzis Asset Management LLC Has $3.12 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Lountzis Asset Management LLC cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,992 shares of the company’s stock after selling 671 shares during the period. Cloudflare accounts for approximately 1.3% of Lountzis Asset Management LLC’s holdings, making the stock its 17th biggest holding. Lountzis Asset Management LLC’s holdings in Cloudflare were worth $3,122,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the period. Swiss National Bank boosted its position in shares of Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of Cloudflare by 0.4% in the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after buying an additional 2,483 shares in the last quarter. Finally, National Pension Service raised its stake in Cloudflare by 0.9% during the 3rd 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. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NET. UBS Group raised their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Morgan Stanley upped their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Robert W. Baird restated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $136.28.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $47,580,834.74. This represents a 8.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were 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 $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 533,297 shares of company stock valued at $62,604,696 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NET stock opened at $160.48 on Thursday. The business’s fifty day moving average price is $128.51 and its two-hundred day moving average price is $102.19. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 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.