Canada Pension Plan Investment Board Increases Holdings in Cloudflare, Inc. (NYSE:NET)

Canada Pension Plan Investment Board boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 52.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 206,005 shares of the company's stock after purchasing an additional 71,292 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Cloudflare worth $22,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc increased its stake in Cloudflare by 44.9% during the fourth 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 period. GAMMA Investing LLC lifted its position in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Sava Infond d.o.o. purchased a new position in shares of Cloudflare in the fourth quarter valued at approximately $65,000. Finally, Whittier Trust Co. grew its holdings in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

NET stock traded up $4.80 during trading on Tuesday, hitting $106.91. The company had a trading volume of 2,475,585 shares, compared to its average volume of 3,178,476. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a 50-day moving average price of $125.32 and a 200-day moving average price of $114.83. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $36.89 billion, a PE ratio of -485.95 and a beta of 1.59.

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

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at $20,824,263.60. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,253 shares of company stock worth $70,819,909 over the last ninety days. 12.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NET has been the subject of several research reports. UBS Group dropped their price target on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada reduced their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. DZ Bank cut shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price on the stock. in a report on Tuesday, February 11th. Finally, JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $134.84.

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.