Knights of Columbus Asset Advisors LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Knights of Columbus Asset Advisors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,657 shares of the company’s stock, valued at approximately $825,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in Cloudflare by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after acquiring an additional 313 shares during the last quarter. Quest Partners LLC bought a new stake in Cloudflare during the 3rd quarter worth $54,000. Pathstone Holdings LLC grew its position in Cloudflare by 5.2% during the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after acquiring an additional 1,200 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Cloudflare during the 3rd quarter worth $591,000. Finally, Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 29,960 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Needham & Company LLC reduced their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Cantor Fitzgerald upped their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, UBS Group reduced their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $131.64.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value 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. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 566,766 shares of company stock valued at $73,779,200. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Up 0.9 %

NET stock opened at $118.95 on Friday. The stock’s 50 day simple moving average is $136.73 and its 200 day simple moving average is $110.01. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week 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 market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.