5,048 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,048 shares of the company’s stock, valued at approximately $525,000.

Several other institutional investors also recently modified their holdings of the business. Personal CFO Solutions LLC bought a new position in shares of Cloudflare in the 4th quarter worth about $266,000. Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Cloudflare by 12.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,076 shares of the company’s stock valued at $654,000 after purchasing an additional 655 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Cloudflare by 6.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,778 shares of the company’s stock valued at $1,518,000 after purchasing an additional 753 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its stake in Cloudflare by 5.7% during the 4th quarter. EFG Asset Management Americas Corp. now owns 28,757 shares of the company’s stock valued at $3,097,000 after purchasing an additional 1,553 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Cantor Fitzgerald raised their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Mizuho raised their price target on shares of Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $136.28.

Cloudflare Stock Performance

NET opened at $126.57 on Monday. 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 $43.67 billion, a price-to-earnings ratio of -575.30 and a beta of 1.27. The company’s 50 day moving average is $135.81 and its 200 day moving average is $107.51. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $59,961,421.52. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 623,046 shares of company stock worth $79,594,844. 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.