90,559 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by TIAA Trust National Association

TIAA Trust National Association acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 90,559 shares of the company's stock, valued at approximately $9,751,000.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after purchasing an additional 121,810 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock valued at $138,516,000 after buying an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cloudflare by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company's stock valued at $131,559,000 after acquiring an additional 63,945 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company's stock worth $71,250,000 after acquiring an additional 2,483 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

NET has been the subject of several analyst reports. Susquehanna raised their price objective on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Piper Sandler lowered their price target on Cloudflare from $153.00 to $131.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, Morgan Stanley began coverage on shares of Cloudflare in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Cloudflare currently has a consensus rating of "Hold" and an average price target of $135.64.

Cloudflare Stock Down 3.1 %

Shares of NET traded down $3.68 during trading hours on Friday, hitting $114.89. The company had a trading volume of 3,139,802 shares, compared to its average volume of 3,081,173. 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 company has a market capitalization of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company's fifty day moving average price is $137.47 and its two-hundred day moving average price is $111.56.

Cloudflare (NYSE:NET - Get Free Report) last announced its 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 618,046 shares of company stock worth $80,142,792 over the last three months. Corporate insiders own 12.83% of the company's stock.

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.