Kazazian Asset Management LLC Makes New $269,000 Investment in Cloudflare, Inc. (NYSE:NET)

Kazazian Asset Management LLC bought a new position in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, HoldingsChannel reports. The fund bought 2,500 shares of the company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Larson Financial Group LLC lifted its position in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc lifted its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at approximately $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. In the last three months, insiders have sold 504,382 shares of company stock worth $66,194,115. Corporate insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho cut their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial raised their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Cantor Fitzgerald raised their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Robert W. Baird restated a “neutral” rating and set a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $130.04.

Cloudflare Stock Performance

NYSE NET opened at $114.99 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of -522.70 and a beta of 1.27. The company’s fifty day moving average is $136.54 and its two-hundred day moving average is $109.42. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results 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%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.