AIA Group Ltd Buys 10,075 Shares of Cloudflare, Inc. (NYSE:NET)

AIA Group Ltd increased its stake in Cloudflare, Inc. (NYSE:NET) by 30.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,954 shares of the company’s stock after acquiring an additional 10,075 shares during the period. AIA Group Ltd’s holdings in Cloudflare were worth $4,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Cloudflare by 47.0% in the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock valued at $639,000 after purchasing an additional 1,896 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Cloudflare by 16.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,992 shares of the company’s stock worth $2,583,000 after purchasing an additional 3,411 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Cloudflare by 3.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,032 shares of the company’s stock valued at $582,000 after buying an additional 155 shares during the period. IPG Investment Advisors LLC bought a new position in shares of Cloudflare during the fourth quarter valued at about $239,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Cloudflare by 339.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 232,136 shares of the company’s stock valued at $24,996,000 after acquiring an additional 179,303 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NET shares. Susquehanna raised their price target on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Piper Sandler cut their target price on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group upped their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $135.64.

Cloudflare Price Performance

NET stock opened at $114.89 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a 50 day moving average price of $137.47 and a 200-day moving average price of $111.56. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a market capitalization of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27.

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 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%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $117.34, for a total value of $3,008,597.60. Following the completion of the transaction, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $48,509,881.42. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the 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 sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 618,046 shares of company stock valued at $80,142,792 in the last quarter. 12.83% of the stock is owned by 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.