Ardsley Advisory Partners LP Takes Position in Cloudflare, Inc. (NYSE:NET)

Ardsley Advisory Partners LP bought a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $2,140,000.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares during the period. Sava Infond d.o.o. bought a new stake in shares of Cloudflare in the 4th quarter worth $65,000. Finally, Whittier Trust Co. lifted its holdings in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the firm’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 value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $59,279,290.07. This trade represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 509,973 shares of company stock valued at $66,133,783. Insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NET shares. The Goldman Sachs Group dropped their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Scotiabank boosted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus raised their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada dropped their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird reissued a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $134.84.

Cloudflare Stock Performance

Shares of NET stock opened at $124.26 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock’s 50-day moving average is $117.80 and its two-hundred day moving average is $116.35. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market cap of $42.88 billion, a P/E ratio of -564.82 and a beta of 1.59.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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 earnings per share for the current fiscal 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.