Headlands Technologies LLC Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

Headlands Technologies LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,001 shares of the company’s stock, valued at approximately $83,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. GAMMA Investing LLC acquired a new stake in Cloudflare in the 4th quarter valued at approximately $39,000. Massmutual Trust Co. FSB ADV grew its holdings in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after buying an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after buying an additional 296 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $55,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NET shares. Needham & Company LLC lifted their price objective on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Truist Financial lifted their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. KeyCorp lifted their price objective on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Susquehanna lifted their price objective on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.48.

Cloudflare Stock Performance

NET stock opened at $87.36 on Wednesday. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The business has a fifty day moving average of $94.50 and a 200-day moving average of $83.32.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, COO Michelle Zatlyn sold 277,376 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the sale, the chief operating officer now owns 38,545 shares in the company, valued at $3,899,597.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michelle Zatlyn sold 277,376 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the sale, the chief operating officer now owns 38,545 shares in the company, valued at $3,899,597.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,036,325 shares of company stock worth $101,094,871. 12.83% of the stock is owned by insiders.

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.