Bryce Point Capital LLC Purchases Shares of 11,820 Cloudflare, Inc. (NYSE:NET)

Bryce Point Capital LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,820 shares of the company's stock, valued at approximately $1,273,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP boosted its stake in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc lifted its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares during the period. Finally, Sava Infond d.o.o. acquired a new position in shares of Cloudflare during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the sale, the insider now directly owns 188,406 shares of the company's stock, valued at approximately $21,257,848.98. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,223,962.26. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 559,662 shares of company stock valued at $73,480,384. Corporate insiders own 12.83% of the company's stock.

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Cloudflare Trading Up 4.6 %

Shares of NET traded up $4.55 on Tuesday, reaching $102.91. 1,806,358 shares of the company's stock were exchanged, compared to its average volume of 3,135,207. The business has a 50 day moving average price of $135.79 and a two-hundred day moving average price of $113.01. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The stock has a market capitalization of $35.51 billion, a P/E ratio of -468.14 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

NET has been the subject of a number of research reports. Truist Financial increased their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. JMP Securities boosted their price objective on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Mizuho lowered their target price on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus price target of $134.88.

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.