Mariner LLC Increases Position in Cloudflare, Inc. (NYSE:NET)

Mariner LLC lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,522 shares of the company’s stock after acquiring an additional 1,509 shares during the quarter. Mariner LLC’s holdings in Cloudflare were worth $11,363,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. Versant Capital Management Inc increased its holdings in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC raised its position in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. Sava Infond d.o.o. purchased a new position in Cloudflare in the fourth quarter valued at about $65,000. Finally, Whittier Trust Co. grew its position in shares of Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after acquiring an additional 329 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NET shares. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research note on Tuesday, February 11th. Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Citigroup raised 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. Finally, Jefferies Financial Group lifted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $134.84.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 31,136 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total value of $3,739,433.60. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $30,369,566.90. This trade represents a 10.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated 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 owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 579,389 shares of company stock worth $74,559,343. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $107.81 on Friday. The business’s 50-day moving average price is $129.32 and its 200-day moving average price is $113.82. The firm has a market capitalization of $37.20 billion, a PE ratio of -490.03 and a beta of 1.59. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS for the current fiscal 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.