Capital Market Strategies LLC Acquires New Shares in Cloudflare, Inc. (NYSE:NET)

Capital Market Strategies LLC bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,011 shares of the company’s stock, valued at approximately $647,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NET. Marshall Wace LLP increased its holdings in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare during the third quarter valued at about $25,588,000. American Century Companies Inc. raised its holdings in Cloudflare by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock valued at $115,526,000 after acquiring an additional 277,228 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Cloudflare in the 3rd quarter valued at approximately $147,160,000. Finally, Parnassus Investments LLC lifted its position in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,492 shares of company stock worth $54,916,040 over the last quarter. 12.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target on the stock. The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and increased their price target for the stock from $77.00 to $140.00 in a research report on Thursday. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.37.

Cloudflare Trading Down 1.2 %

Shares of NYSE NET traded down $1.43 during midday trading on Monday, reaching $113.30. 1,200,283 shares of the stock were exchanged, compared to its average volume of 2,750,178. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $119.42. The company has a market capitalization of $38.88 billion, a price-to-earnings ratio of -435.77 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a 50-day simple moving average of $102.82 and a two-hundred day simple moving average of $89.16.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

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.