Bank of New York Mellon Corp Has $138.52 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Bank of New York Mellon Corp grew its holdings in Cloudflare, Inc. (NYSE:NET) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,286,372 shares of the company’s stock after acquiring an additional 23,641 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cloudflare were worth $138,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NET. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $25,588,000. Parnassus Investments LLC increased its holdings in Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after buying an additional 131,319 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the last quarter. Generate Investment Management Ltd acquired a new position in Cloudflare during the fourth quarter worth $12,946,000. Finally, Los Angeles Capital Management LLC increased its holdings in Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock worth $22,716,000 after buying an additional 116,130 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NET. Susquehanna boosted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. UBS Group boosted their target price on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $136.28.

Cloudflare Trading Up 3.4 %

Shares of Cloudflare stock opened at $145.48 on Friday. The firm has a 50-day moving average of $132.65 and a 200-day moving average of $104.96. The stock has a market cap of $49.93 billion, a PE ratio of -661.26 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. 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 (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,216,106. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 638,046 shares of company stock valued at $81,243,344 over the last quarter. 12.83% of the stock is owned by company insiders.

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.