109,900 Shares in Cloudflare, Inc. (NYSE:NET) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 109,900 shares of the company’s stock, valued at approximately $11,834,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Cloudflare during the 4th quarter worth about $825,000. Sei Investments Co. increased its stake in Cloudflare by 19.1% during the 4th quarter. Sei Investments Co. now owns 219,090 shares of the company’s stock worth $23,592,000 after buying an additional 35,198 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. Vestor Capital LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at approximately $5,603,000. Finally, Whittier Trust Co. lifted its position in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after acquiring an additional 329 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 566,766 shares of company stock valued at $73,779,200. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird reissued a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Susquehanna increased their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. UBS Group cut their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Jefferies Financial Group boosted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $131.64.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $124.22 on Tuesday. The stock has a market capitalization of $42.86 billion, a price-to-earnings ratio of -564.61 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. The business has a 50-day moving average of $137.01 and a 200 day moving average of $110.56. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

About Cloudflare

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.