Empowered Funds LLC Increases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Empowered Funds LLC increased its stake in Cloudflare, Inc. (NYSE:NET) by 13.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,960 shares of the company’s stock after acquiring an additional 582 shares during the quarter. Empowered Funds LLC’s holdings in Cloudflare were worth $534,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare during the 3rd quarter worth about $38,000. Quarry LP raised its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Cloudflare in the third quarter valued at approximately $54,000. Versant Capital Management Inc boosted its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 35,118 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $18,212,582.70. The trade was a 16.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,216,106. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,335 shares of company stock valued at $57,238,617 in the last ninety days. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 1.6 %

Shares of NYSE NET opened at $168.45 on Wednesday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The business’s 50 day moving average is $126.45 and its two-hundred day moving average is $101.15. The firm has a market cap of $57.81 billion, a price-to-earnings ratio of -765.69 and a beta of 1.12. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Research analysts predict that Cloudflare, Inc. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research reports. Guggenheim raised their price objective on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Jefferies Financial Group raised their price target 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. The Goldman Sachs Group upped their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, JMP Securities upped their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $136.28.

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.