2,405 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. bought a new position in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,405 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NET. Geode Capital Management LLC boosted its position in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the last quarter. Swiss National Bank lifted its position in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares during the last quarter. National Pension Service lifted its position in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cloudflare by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 326,853 shares of the company’s stock worth $27,070,000 after buying an additional 1,460 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now directly owns 185,386 shares in the company, valued at $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.00, for a total transaction of $605,000.00. Following the sale, the director now owns 5,927 shares of the company’s stock, valued at $521,576. This trade represents a 53.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 641,132 shares of company stock valued at $69,429,058. 12.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NET. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Cantor Fitzgerald started coverage on Cloudflare in a research report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target for the company. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and increased their target price for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Royal Bank of Canada increased their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley increased their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average target price of $108.92.

Cloudflare Price Performance

NYSE NET opened at $126.58 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $43.44 billion, a PE ratio of -486.86 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $130.65. The company has a 50 day moving average price of $111.39 and a two-hundred day moving average price of $93.18.

Cloudflare (NYSE:NET) last announced its quarterly earnings results 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 the consensus estimate 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 analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal 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.