Malaga Cove Capital LLC Has $1.07 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Malaga Cove Capital LLC lessened its stake in Cloudflare, Inc. (NYSE:NET) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,921 shares of the company’s stock after selling 137 shares during the quarter. Malaga Cove Capital LLC’s holdings in Cloudflare were worth $1,068,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management bought a new position in Cloudflare during the fourth quarter worth about $304,000. Grandview Asset Management LLC lifted its position in shares of Cloudflare by 16.5% in the fourth quarter. Grandview Asset Management LLC now owns 11,972 shares of the company’s stock valued at $1,289,000 after buying an additional 1,698 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cloudflare by 38.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company’s stock worth $515,000 after acquiring an additional 1,326 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Cloudflare by 28.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company’s stock valued at $679,000 after acquiring an additional 1,390 shares during the period. Finally, Carnegie Investment Counsel lifted its holdings in Cloudflare by 7.3% during the 4th quarter. Carnegie Investment Counsel now owns 181,093 shares of the company’s stock valued at $19,500,000 after purchasing an additional 12,290 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 5.6%

Shares of NET opened at $150.39 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of -683.59 and a beta of 1.78. The business’s fifty day moving average is $116.38 and its 200-day moving average is $118.56.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock worth $63,757,685 over the last quarter. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $145.00 in a report on Friday, January 17th. Susquehanna cut their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Scotiabank lifted their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.79.

About Cloudflare

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.