GAMMA Investing LLC Purchases 171 Shares of Cloudflare, Inc. (NYSE:NET)

GAMMA Investing LLC boosted its position in Cloudflare, Inc. (NYSE:NET) by 34.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 668 shares of the company’s stock after acquiring an additional 171 shares during the period. GAMMA Investing LLC’s holdings in Cloudflare were worth $65,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. grew its stake in Cloudflare by 6.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock valued at $5,808,000 after buying an additional 4,300 shares in the last quarter. Truist Financial Corp grew its position in shares of Cloudflare by 1.2% in the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock valued at $2,364,000 after purchasing an additional 331 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Cloudflare by 5.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock valued at $5,478,000 after purchasing an additional 3,164 shares during the period. Deutsche Bank AG lifted its holdings in Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Cloudflare in the 4th quarter worth about $11,639,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total transaction of $5,030,959.36. Following the sale, the chief executive officer now owns 230,612 shares of the company’s stock, valued at approximately $22,147,976.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36. Following the completion of the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $22,147,976.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katrin Suder sold 574 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total value of $38,521.14. Following the completion of the sale, the director now directly owns 51,162 shares in the company, valued at $3,433,481.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 662,119 shares of company stock worth $54,101,374. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $77.94 on Monday. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The stock’s 50-day moving average is $77.63 and its 200 day moving average is $85.36.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $372.93 million. On average, analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NET. Bank of America upped their price target on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Robert W. Baird cut their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Mizuho reduced their price target on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Cloudflare in a research note on Tuesday, May 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $81.00 target price (down from $110.00) on shares of Cloudflare in a research note on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.70.

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.