Aljian Capital Management LLC Acquires New Shares in Cloudflare, Inc. (NYSE:NET)

Aljian Capital Management LLC bought a new position in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,368 shares of the company’s stock, valued at approximately $470,000.

Several other large investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the last quarter. Swiss National Bank lifted its position in shares of Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares during the period. National Pension Service boosted its stake in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Cloudflare by 16.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock worth $42,602,000 after buying an additional 56,906 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $172.78 on Thursday. The company’s 50-day simple moving average is $122.83 and its two-hundred day simple moving average is $98.96. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $176.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Cloudflare, Inc. will post -0.04 EPS for the current year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $24,030,141.07. This represents a 10.17 % 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, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 581,354 shares of company stock valued at $64,625,120 in the last 90 days. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NET. JPMorgan Chase & Co. boosted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Piper Sandler increased their price target on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. The Goldman Sachs Group increased their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and an average target price of $135.28.

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.