Knights of Columbus Asset Advisors LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Knights of Columbus Asset Advisors LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 7,657 shares of the company’s stock, valued at approximately $825,000.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC grew 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 acquiring an additional 121,810 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cloudflare by 1.9% in 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 acquiring an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after purchasing an additional 63,945 shares during the period. Finally, Peregrine Capital Management LLC grew its holdings in Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after purchasing an additional 2,483 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Up 0.9 %

NYSE NET opened at $118.95 on Friday. 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 stock has a market capitalization of $41.05 billion, a PE ratio of -540.70 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The business’s 50-day moving average is $136.73 and its 200 day moving average is $110.01.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

NET has been the subject of several research reports. Morgan Stanley initiated coverage on Cloudflare in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Needham & Company LLC reduced their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Mizuho reduced their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Scotiabank increased their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.64.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare 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 sale, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 566,766 shares of company stock valued at $73,779,200 over the last ninety days. 12.83% of the stock is owned by insiders.

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.