Cloudflare, Inc. (NYSE:NET) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 44.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 549 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Versant Capital Management Inc’s holdings in Cloudflare were worth $59,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare in the third quarter valued at $25,588,000. American Century Companies Inc. boosted its holdings in Cloudflare by 24.8% in the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock valued at $115,526,000 after purchasing an additional 277,228 shares during the period. International Assets Investment Management LLC acquired a new position in Cloudflare during the 3rd quarter worth $147,160,000. Finally, Parnassus Investments LLC increased its holdings in Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after purchasing an additional 131,319 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.60, for a total transaction of $2,117,864.00. Following the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $15,873,820.20. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 550,492 shares of company stock valued at $54,916,040. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of analyst reports. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $140.00 in a research report on Thursday. Mizuho boosted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Royal Bank of Canada raised their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.37.

Cloudflare Stock Performance

Shares of NET stock opened at $114.73 on Monday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $39.37 billion, a PE ratio of -441.27 and a beta of 1.10. The company’s fifty day simple moving average is $102.82 and its 200-day simple moving average is $89.16. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $119.42.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.1 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.