Polymer Capital Management HK LTD Purchases 6,291 Shares of Cloudflare, Inc. (NYSE:NET)

Polymer Capital Management HK LTD boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 100.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,541 shares of the company’s stock after acquiring an additional 6,291 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Cloudflare were worth $1,350,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after purchasing an additional 68,661 shares in the last quarter. Groupama Asset Managment purchased a new stake in shares of Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the fourth quarter worth approximately $249,544,000. American Century Companies Inc. raised its holdings in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after purchasing an additional 23,641 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Down 9.3 %

Shares of NET stock opened at $97.39 on Friday. The company’s fifty day simple moving average is $136.35 and its two-hundred day simple moving average is $112.43. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The stock has a market cap of $33.61 billion, a P/E ratio of -442.68 and a beta of 1.59. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. Analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Jefferies Financial Group upped their price objective on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada lowered their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Oppenheimer began coverage on Cloudflare in a research note on Thursday, March 20th. They set an “outperform” rating and a $150.00 price target for the company. Finally, Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $135.64.

Insider Activity

In other news, insider Douglas James Kramer sold 2,481 shares of the company’s 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 transaction, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,226,652.76. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 612,046 shares of company stock valued at $79,451,112. 12.83% of the stock is currently owned by company insiders.

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.