Farringdon Capital Ltd. Buys New Stake in Cloudflare, Inc. (NYSE:NET)

Farringdon Capital Ltd. acquired a new position in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,922 shares of the company’s stock, valued at approximately $315,000.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Cloudflare by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,034 shares of the company’s stock worth $326,000 after acquiring an additional 186 shares during the last quarter. Advisory Resource Group raised its holdings in Cloudflare by 1.6% during the 3rd quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after buying an additional 195 shares during the period. Virtu Financial LLC purchased a new position in Cloudflare during the third quarter worth $1,268,000. Sanctuary Advisors LLC raised its stake in shares of Cloudflare by 37.2% in the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock valued at $1,143,000 after acquiring an additional 3,835 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Cloudflare during the 3rd quarter worth about $204,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on NET shares. Royal Bank of Canada decreased their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Mizuho upgraded Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Wednesday. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.84.

Cloudflare Trading Down 1.6 %

NYSE:NET opened at $107.81 on Friday. The firm has a 50 day moving average of $128.02 and a 200 day moving average of $114.01. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of -490.03 and a beta of 1.59. 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, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20. Following the completion of the transaction, the insider now directly owns 413,413 shares in the company, valued at $45,074,419.39. This trade represents a 5.84 % 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, CFO Thomas J. Seifert sold 31,136 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,369,566.90. This represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 579,389 shares of company stock worth $74,559,343. 12.83% of the stock is owned by corporate 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.