First Hawaiian Bank purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,030 shares of the company’s stock, valued at approximately $1,446,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of Cloudflare by 13.9% during the 2nd quarter. FMR LLC now owns 24,729,579 shares of the company’s stock worth $889,029,000 after purchasing an additional 3,012,041 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cloudflare by 169.5% during the 2nd quarter. Vanguard Group Inc. now owns 9,213,102 shares of the company’s stock worth $331,210,000 after purchasing an additional 5,795,087 shares during the last quarter. BlackRock Inc. increased its position in shares of Cloudflare by 29.8% during the 3rd quarter. BlackRock Inc. now owns 6,202,449 shares of the company’s stock worth $254,672,000 after purchasing an additional 1,424,603 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth about $67,697,000. Finally, Blackstone Group Inc increased its position in shares of Cloudflare by 20.7% during the 3rd quarter. Blackstone Group Inc now owns 1,200,000 shares of the company’s stock worth $49,272,000 after purchasing an additional 205,600 shares during the last quarter. Institutional investors and hedge funds own 47.92% of the company’s stock.
In other Cloudflare news, General Counsel Douglas James Kramer sold 7,076 shares of the business’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $74.93, for a total value of $530,204.68. Following the completion of the sale, the general counsel now owns 6,282 shares in the company, valued at $470,710.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott D. Sandell sold 85,680 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $64.10, for a total value of $5,492,088.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,103,120 shares of company stock valued at $75,034,153. 35.89% of the stock is owned by company insiders.
Shares of NYSE NET opened at $82.48 on Thursday. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.45. Cloudflare, Inc. has a twelve month low of $15.05 and a twelve month high of $88.77. The stock has a 50 day moving average of $78.84 and a two-hundred day moving average of $53.33. The stock has a market cap of $25.35 billion, a P/E ratio of -211.48 and a beta of 0.01.
Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Cloudflare had a negative return on equity of 12.16% and a negative net margin of 29.17%. The company had revenue of $114.16 million during the quarter, compared to analysts’ expectations of $103.18 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. As a group, research analysts predict that Cloudflare, Inc. will post -0.31 earnings per share for the current year.
A number of brokerages recently issued reports on NET. FBN Securities began coverage on Cloudflare in a research report on Thursday, October 8th. They set an “outperform” rating and a $55.00 price objective for the company. Oppenheimer raised their price objective on Cloudflare from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Needham & Company LLC boosted their price objective on Cloudflare from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. JPMorgan Chase & Co. downgraded Cloudflare from an “overweight” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Wednesday, December 9th. Finally, Wells Fargo & Company boosted their price objective on Cloudflare from $50.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.35.
CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.
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