Arizona State Retirement System Has $9.51 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Arizona State Retirement System grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,347 shares of the company’s stock after buying an additional 2,085 shares during the period. Arizona State Retirement System’s holdings in Cloudflare were worth $9,513,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Cloudflare by 2.6% in 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 during the period. Bank of New York Mellon Corp grew its stake in shares of Cloudflare by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after buying an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after buying an additional 63,945 shares during the period. Swiss National Bank grew its stake in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $185.00 price target on shares of Cloudflare in a report on Tuesday, February 18th. Susquehanna boosted their price objective on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Guggenheim increased their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Piper Sandler raised their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Morgan Stanley upped their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. 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 company. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Down 9.0 %

Shares of Cloudflare stock opened at $130.85 on Friday. The company’s fifty day simple moving average is $135.12 and its two-hundred day simple moving average is $106.87. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $45.15 billion, a P/E ratio of -594.79 and a beta of 1.27.

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

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of the business’s 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 sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 623,046 shares of company stock valued at $79,594,844 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Cloudflare 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.