2,161 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,161 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors also recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the third quarter valued at approximately $25,588,000. International Assets Investment Management LLC purchased a new position in Cloudflare during the 3rd quarter worth $147,160,000. Parnassus Investments LLC grew its stake in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after purchasing an additional 116,130 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 641,132 shares of company stock worth $69,429,058. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 2.5 %

NET stock opened at $136.44 on Thursday. The stock has a 50-day simple moving average of $113.05 and a two-hundred day simple moving average of $93.88. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $140.25. The firm has a market capitalization of $46.83 billion, a PE ratio of -524.77 and a beta of 1.10. 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 issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. On average, equities analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on NET. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Piper Sandler increased their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and upped their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Jefferies Financial Group lifted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.72.

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.