Metis Global Partners LLC Boosts Stake in Cloudflare, Inc. (NYSE:NET)

Metis Global Partners LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,179 shares of the company’s stock after purchasing an additional 393 shares during the period. Metis Global Partners LLC’s holdings in Cloudflare were worth $450,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NET. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the third quarter worth $25,588,000. Parnassus Investments LLC increased its position in shares of Cloudflare by 1,851.9% during the third 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Generate Investment Management Ltd acquired a new position in shares of Cloudflare in the 4th quarter valued at $12,946,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Cloudflare by 70.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after acquiring an additional 116,130 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Guggenheim upped their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Finally, Susquehanna upped their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $136.28.

Cloudflare Trading Up 1.9 %

Shares of Cloudflare stock opened at $143.67 on Thursday. The firm has a market capitalization of $49.58 billion, a PE ratio of -653.05 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The firm’s 50-day moving average price is $134.50 and its 200 day moving average price is $106.61. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,489,020.12. This represents a 12.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 623,046 shares of company stock valued at $79,594,844. 12.83% of the stock is owned by corporate 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.