Aigen Investment Management LP Invests $361,000 in Cloudflare, Inc. (NYSE:NET)

Aigen Investment Management LP acquired a new stake in Cloudflare, Inc. (NYSE:NET) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,462 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its position in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the period. Marshall Wace LLP grew its holdings in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the period. Capital World Investors increased its stake in Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after purchasing an additional 412,864 shares during the period. Finally, Natixis bought a new position in shares of Cloudflare during the first quarter worth $28,334,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the completion of the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $15,681,643.20. This trade represents a 25.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 473,548 shares of company stock valued at $39,451,976 over the last three months. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on NET shares. Wells Fargo & Company raised their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho increased their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.88.

Cloudflare Stock Performance

NYSE NET opened at $92.00 on Friday. The firm has a market capitalization of $31.44 billion, a P/E ratio of -353.85 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average price is $85.57 and its two-hundred day moving average price is $80.80. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current year.

Cloudflare 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.