E Fund Management Co. Ltd. Makes New Investment in Cloudflare, Inc. (NYSE:NET)

E Fund Management Co. Ltd. acquired a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,569 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in Cloudflare by 29.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 27,023 shares of the company’s stock valued at $2,186,000 after acquiring an additional 6,156 shares during the period. Capital Performance Advisors LLP purchased a new position in Cloudflare in the 3rd quarter valued at $38,000. State of New Jersey Common Pension Fund D lifted its holdings in Cloudflare by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 110,832 shares of the company’s stock valued at $8,965,000 after purchasing an additional 786 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in 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 purchasing an additional 116,130 shares in the last quarter. Finally, Lountzis Asset Management LLC lifted its holdings in Cloudflare by 4.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 29,663 shares of the company’s stock valued at $2,399,000 after purchasing an additional 1,140 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 623,046 shares of company stock valued at $79,594,844 in the last three months. 12.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NET has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial raised their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Guggenheim lifted their price target on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Stifel Nicolaus lifted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Four research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $136.28.

Cloudflare Stock Performance

NYSE NET opened at $126.57 on Friday. The company has a market cap of $43.67 billion, a P/E ratio of -575.30 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a 50-day moving average of $135.81 and a two-hundred day moving average of $107.33. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare Company 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.