Aigen Investment Management LP Acquires 1,798 Shares of Cloudflare, Inc. (NYSE:NET)

Aigen Investment Management LP increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 40.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,260 shares of the company’s stock after acquiring an additional 1,798 shares during the period. Aigen Investment Management LP’s holdings in Cloudflare were worth $674,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Geode Capital Management LLC grew its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after acquiring an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cloudflare by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after acquiring an additional 63,945 shares during the last quarter. Swiss National Bank grew its position in Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in Cloudflare by 0.4% during the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after acquiring an additional 2,483 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on NET. The Goldman Sachs Group increased their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a research report on Tuesday, February 18th. Mizuho increased their price objective on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Four investment 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, the company currently has a consensus rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Performance

NET opened at $130.85 on Friday. The business’s 50-day moving average price is $135.12 and its two-hundred day moving average price is $106.87. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of -594.79 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $28,503,393.68. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 623,046 shares of company stock valued at $79,594,844 in the last 90 days. 12.83% of the stock is currently owned by company insiders.

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.