Cloudflare, Inc. (NYSE:NET) Holdings Lifted by Choreo LLC

Choreo LLC grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,766 shares of the company’s stock after buying an additional 137 shares during the period. Choreo LLC’s holdings in Cloudflare were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NET. CVA Family Office LLC raised its stake in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare during the third quarter valued at $38,000. Quarry LP raised its stake 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 purchasing an additional 133 shares in the last quarter. Quest Partners LLC acquired a new stake in Cloudflare in the third quarter worth about $54,000. Finally, Versant Capital Management Inc grew its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Down 0.0 %

NET opened at $172.44 on Wednesday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $176.73. 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 business has a 50 day moving average price of $121.59 and a 200 day moving average price of $98.44. The firm has a market cap of $59.18 billion, a P/E ratio of -783.81 and a beta of 1.12.

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 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%. Research analysts forecast that Cloudflare, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NET. Morgan Stanley upped their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $135.28.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 581,354 shares of company stock valued at $64,625,120. 12.83% of the stock is owned by insiders.

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.