Generali Investments Management Co LLC Increases Position in Cloudflare, Inc. $NET

Generali Investments Management Co LLC increased its holdings in Cloudflare, Inc. (NYSE:NET) by 277.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,263 shares of the company’s stock after acquiring an additional 3,870 shares during the period. Generali Investments Management Co LLC’s holdings in Cloudflare were worth $1,129,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Cloudflare in the 2nd quarter valued at $541,462,000. Groupama Asset Managment purchased a new position in shares of Cloudflare in the 2nd quarter worth about $225,204,000. Vanguard Group Inc. grew its position in Cloudflare by 2.6% during the third quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after buying an additional 821,684 shares during the period. KBC Group NV increased its holdings in Cloudflare by 1,388.7% during the second quarter. KBC Group NV now owns 736,153 shares of the company’s stock worth $144,161,000 after buying an additional 686,702 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in Cloudflare in the third quarter worth about $138,660,000. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the completion of the transaction, the insider owned 34,514 shares of the company’s stock, valued at approximately $6,467,578.46. The trade was a 50.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 41,557 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the completion of the sale, the chief financial officer owned 85,452 shares in the company, valued at $15,812,038.08. This represents a 32.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 610,780 shares of company stock worth $115,913,967. 10.89% of the stock is owned by company insiders.

Cloudflare Price Performance

Cloudflare stock opened at $174.59 on Friday. The firm has a market capitalization of $61.16 billion, a P/E ratio of -602.01 and a beta of 1.97. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day moving average price of $186.33 and a 200-day moving average price of $203.14.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NET shares. Barclays increased their target price on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada increased their price objective on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Citigroup boosted their target price on Cloudflare from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. New Street Research set a $140.00 price target on Cloudflare in a research note on Wednesday, February 11th. Finally, Piper Sandler lifted their price objective on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.70.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.