Aljian Capital Management LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Aljian Capital Management LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,368 shares of the company's stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock valued at $390,130,000 after buying an additional 121,810 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after acquiring an additional 29,960 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company's stock valued at $72,283,000 after purchasing an additional 10,100 shares in the last quarter. National Pension Service lifted its holdings in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company's stock valued at $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Cloudflare by 16.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock valued at $42,602,000 after purchasing an additional 56,906 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Down 3.1 %

NYSE NET traded down $5.52 during trading hours on Friday, hitting $170.98. The company's stock had a trading volume of 3,555,331 shares, compared to its average volume of 3,196,727. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company's 50-day simple moving average is $125.30 and its two-hundred day simple moving average is $100.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. Equities analysts expect that Cloudflare, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent research reports. Oppenheimer downgraded Cloudflare from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price target on Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Morgan Stanley upped their target price on Cloudflare from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Guggenheim upped their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a report on Friday, February 7th. Finally, Robert W. Baird restated a "neutral" rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $135.28.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm's 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 completion of the transaction, the insider now directly owns 175,688 shares of the company's stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michelle Zatlyn sold 35,118 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company's stock, valued at approximately $18,212,582.70. The trade was a 16.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 528,970 shares of company stock worth $59,959,801. Corporate insiders own 12.83% of the company's stock.

About Cloudflare

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.