Dimensional Fund Advisors LP boosted its position in Cloudflare, Inc. (NYSE:NET) by 112.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,432 shares of the company’s stock after purchasing an additional 19,809 shares during the period. Dimensional Fund Advisors LP’s holdings in Cloudflare were worth $2,844,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sigma Planning Corp increased its holdings in shares of Cloudflare by 54.9% in the 4th quarter. Sigma Planning Corp now owns 24,367 shares of the company’s stock valued at $1,852,000 after purchasing an additional 8,633 shares in the last quarter. O Brien Greene & Co. Inc purchased a new position in Cloudflare during the fourth quarter worth $281,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Cloudflare in the fourth quarter worth $578,000. Stifel Financial Corp lifted its position in shares of Cloudflare by 21.1% in the fourth quarter. Stifel Financial Corp now owns 43,553 shares of the company’s stock valued at $3,310,000 after acquiring an additional 7,594 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Cloudflare during the fourth quarter valued at $2,044,000. 61.67% of the stock is currently owned by institutional investors.
NET has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Cloudflare from a “hold” rating to a “sell” rating in a research note on Wednesday, May 19th. Jefferies Financial Group dropped their target price on shares of Cloudflare from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Truist Financial raised Cloudflare from a “hold” rating to a “buy” rating in a research report on Tuesday, March 23rd. Royal Bank of Canada boosted their price target on Cloudflare from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Finally, Cowen began coverage on shares of Cloudflare in a research report on Wednesday, May 26th. They issued an “outperform” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. Cloudflare has a consensus rating of “Buy” and a consensus target price of $81.17.
NYSE:NET opened at $93.47 on Friday. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of -222.55 and a beta of 0.03. The firm’s 50 day moving average is $77.59. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.49. Cloudflare, Inc. has a 12-month low of $27.92 and a 12-month high of $95.77.
Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Cloudflare had a negative net margin of 26.49% and a negative return on equity of 11.84%. The business had revenue of $138.06 million during the quarter, compared to analyst estimates of $131.26 million. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.44 EPS for the current fiscal year.
CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.
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