Capital International Sarl Purchases 14,206 Shares of Cloudflare, Inc. (NYSE:NET)

Capital International Sarl boosted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 187,584 shares of the company's stock after buying an additional 14,206 shares during the period. Capital International Sarl owned approximately 0.05% of Cloudflare worth $20,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after acquiring an additional 68,661 shares in the last quarter. Groupama Asset Managment acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $249,544,000. American Century Companies Inc. raised its holdings in shares of Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after buying an additional 1,017,399 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in 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 worth $138,516,000 after acquiring an additional 23,641 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Up 3.9 %

Shares of NET traded up $3.96 during midday trading on Tuesday, reaching $106.07. 1,670,470 shares of the stock were exchanged, compared to its average volume of 3,173,758. The company has a market cap of $36.60 billion, a price-to-earnings ratio of -481.64 and a beta of 1.59. The firm has a 50 day simple moving average of $125.32 and a 200-day simple moving average of $114.83. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

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%. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NET shares. Needham & Company LLC reduced their target price on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company lifted their target price on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Truist Financial increased their target price on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and a consensus price target of $134.84.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $45,074,419.39. The trade was a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,253 shares of company stock worth $70,819,909. 12.83% of the stock is currently owned by insiders.

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.