Cloudflare, Inc. (NYSE:NET) Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,287 shares of the company’s stock after acquiring an additional 2,355 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cloudflare were worth $1,667,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NET. OneDigital Investment Advisors LLC boosted its holdings in Cloudflare by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after buying an additional 137 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Cloudflare by 5.4% during the third quarter. CIBC Asset Management Inc now owns 10,629 shares of the company’s stock worth $860,000 after buying an additional 545 shares in the last quarter. Empowered Funds LLC boosted its holdings in Cloudflare by 7.7% during the third quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after buying an additional 313 shares in the last quarter. Quest Partners LLC purchased a new stake in Cloudflare during the third quarter worth about $54,000. Finally, Pathstone Holdings LLC boosted its holdings in Cloudflare by 5.2% during the third quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,766 shares of company stock valued at $72,579,200 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NET. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Wells Fargo & Company upped their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Finally, Susquehanna upped their price target on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $131.64.

Cloudflare Stock Performance

Shares of NET stock opened at $117.89 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a 50 day moving average price of $136.61 and a 200 day moving average price of $109.54. The firm has a market capitalization of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current 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.