Cloudflare, Inc. (NYSE:NET) Shares Purchased by Pitcairn Co.

Pitcairn Co. grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 73.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,267 shares of the company’s stock after purchasing an additional 3,069 shares during the quarter. Pitcairn Co.’s holdings in Cloudflare were worth $783,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP boosted its holdings in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the period. GAMMA Investing LLC grew 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 buying an additional 217 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NET. Mizuho decreased their target price on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada lowered their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Piper Sandler dropped their target price on Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. JMP Securities boosted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald increased their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $135.64.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 612,046 shares of company stock valued at $79,451,112. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $97.39 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm’s 50 day simple moving average is $136.35 and its 200-day simple moving average is $112.43. 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 company has a market cap of $33.61 billion, a P/E ratio of -442.68 and a beta of 1.59.

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, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current 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.