Howard Capital Management Inc. Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Howard Capital Management Inc. bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,055 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartline Investment Corp increased its holdings in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare during the 3rd quarter worth about $25,588,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. National Pension Service increased its holdings in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, Strategic Blueprint LLC bought a new position in shares of Cloudflare during the 4th quarter worth about $265,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 533,278 shares of company stock worth $66,134,227 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $143.22 on Wednesday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm’s 50 day moving average is $131.29 and its 200-day moving average is $104.42. The firm has a market capitalization of $49.15 billion, a price-to-earnings ratio of -651.01 and a beta of 1.12. 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 announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.28.

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.