Cloudflare, Inc. (NYSE:NET) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 12.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 223,316 shares of the company’s stock after acquiring an additional 24,928 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Cloudflare worth $25,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartline Investment Corp lifted its position in shares of Cloudflare by 1.5% during the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after purchasing an additional 3,957 shares in the last quarter. Birchcreek Wealth Management LLC acquired a new position in Cloudflare in the 4th quarter worth $215,000. Strategic Blueprint LLC purchased a new position in Cloudflare in the 4th quarter valued at about $265,000. Clarendon Private LLC acquired a new stake in shares of Cloudflare during the fourth quarter valued at about $293,000. Finally, Savant Capital LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $237,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 3.1 %

NET opened at $114.89 on Monday. 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 12 month low of $66.24 and a 12 month high of $177.37. The stock’s 50 day moving average price is $137.47 and its 200 day moving average price is $111.56. The stock has a market cap of $39.64 billion, a P/E ratio of -522.21 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and increased their price objective for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Guggenheim boosted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Finally, UBS Group reduced their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $135.64.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated 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 directly owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred 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 transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 618,046 shares of company stock valued at $80,142,792. Company insiders own 12.83% of the company’s stock.

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.