Generali Asset Management SPA SGR Buys New Stake in Cloudflare, Inc. (NYSE:NET)

Generali Asset Management SPA SGR bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,524 shares of the company’s stock, valued at approximately $1,133,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Cloudflare during the 3rd quarter valued at $54,000. Larson Financial Group LLC lifted its holdings in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds 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 stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 556,766 shares of company stock worth $72,579,200. 12.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NET has been the topic of several recent research reports. UBS Group reduced their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Jefferies Financial Group upped 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. Morgan Stanley assumed coverage on shares of Cloudflare in a research note on Tuesday. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $131.64.

Cloudflare Stock Up 0.3 %

Shares of NYSE:NET opened at $117.89 on Friday. 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 company has a market cap of $40.68 billion, a PE ratio of -535.85 and a beta of 1.27. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The firm has a 50 day simple moving average of $136.61 and a 200 day simple moving average of $109.54.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.