Cloudflare, Inc. (NYSE:NET) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,347 shares of the company's stock after acquiring an additional 2,085 shares during the quarter. Arizona State Retirement System's holdings in Cloudflare were worth $9,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NET. Capital Performance Advisors LLP purchased a new position in Cloudflare during the third quarter valued at $38,000. Quarry LP lifted its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after buying an additional 133 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC increased its holdings in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Cloudflare during the 3rd quarter worth approximately $54,000. Institutional investors own 82.68% of the company's stock.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Insiders have sold a total of 623,046 shares of company stock valued at $79,594,844 over the last quarter. 12.83% of the stock is owned by corporate insiders.

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Cloudflare Stock Down 8.1 %

Shares of NYSE:NET traded down $10.27 during trading hours on Monday, hitting $116.48. The company's stock had a trading volume of 6,509,863 shares, compared to its average volume of 4,086,204. The firm's fifty day moving average price is $135.81 and its 200 day moving average price is $107.68. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a market capitalization of $40.19 billion, a price-to-earnings ratio of -529.45 and a beta of 1.27. 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 issued its quarterly earnings data 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, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Oppenheimer lowered Cloudflare from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. Finally, Robert W. Baird reissued a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.28.

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.