2,465 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,465 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Cloudflare by 2.6% in the third 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 in the last quarter. American Century Companies Inc. grew its position in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cloudflare by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after buying an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $131,559,000 after buying an additional 63,945 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its position in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 4.2 %

NYSE:NET opened at $124.22 on Tuesday. 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, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The business’s fifty day moving average price is $137.01 and its 200 day moving average price is $110.56. The firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group dropped their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Needham & Company LLC lowered their target price on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Mizuho cut their price objective 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. Finally, Robert W. Baird restated a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $131.64.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at $35,229,840. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $48,501,613.16. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 566,766 shares of company stock worth $73,779,200 over the last ninety days. 12.83% of the stock is currently owned by insiders.

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.