5,377 Shares in Cloudflare, Inc. $NET Purchased by Stableford Capital II LLC

Stableford Capital II LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 5,377 shares of the company’s stock, valued at approximately $1,060,000.

Several other large investors have also bought and sold shares of NET. Rakuten Investment Management Inc. purchased a new stake in Cloudflare during the 3rd quarter valued at $138,660,000. Allianz Asset Management GmbH raised its stake in shares of Cloudflare by 322.4% in the third quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company’s stock worth $13,987,000 after purchasing an additional 49,749 shares during the last quarter. National Pension Service lifted its holdings in shares of Cloudflare by 1.0% during the third quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after purchasing an additional 5,939 shares in the last quarter. Swedbank AB lifted its holdings in shares of Cloudflare by 27.7% during the third quarter. Swedbank AB now owns 43,878 shares of the company’s stock valued at $9,416,000 after purchasing an additional 9,527 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Cloudflare by 20.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 170,186 shares of the company’s stock valued at $36,520,000 after buying an additional 28,495 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent analyst reports. Barclays boosted their target price on Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a research note on Wednesday, February 11th. UBS Group reissued a “neutral” rating and set a $220.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on shares of Cloudflare in a research report on Tuesday, January 20th. Finally, KeyCorp restated an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and a consensus target price of $233.38.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 13,618 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $227.80, for a total transaction of $3,102,180.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total value of $3,405,750.00. Following the completion of the sale, the director owned 938,073 shares of the company’s stock, valued at approximately $212,989,474.65. The trade was a 1.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 641,768 shares of company stock worth $122,539,186 over the last three months. 10.89% of the stock is currently owned by insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $209.68 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $73.80 billion, a PE ratio of -723.01 and a beta of 1.98. The firm’s 50 day moving average price is $189.97 and its 200-day moving average price is $203.48. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Cloudflare (NYSE:NET) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The business had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was up 33.6% on a year-over-year basis. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

About Cloudflare

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.