Aigen Investment Management LP Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

Aigen Investment Management LP bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,462 shares of the company’s stock, valued at approximately $361,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the period. Marshall Wace LLP boosted its holdings in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares during the period. Capital World Investors grew its position in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Finally, Natixis acquired a new position in shares of Cloudflare during the 1st quarter worth about $28,334,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 473,548 shares of company stock worth $39,451,976. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada lifted their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Mizuho increased their price target on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.88.

Cloudflare Trading Down 2.3 %

NET stock opened at $92.00 on Friday. The business has a fifty day moving average price of $85.57 and a 200 day moving average price of $80.80. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of -353.85 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly 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). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

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.