Cloudflare, Inc. (NYSE:NET) Shares Bought by Capital World Investors

Capital World Investors grew its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,409,307 shares of the company's stock after buying an additional 260,415 shares during the period. Capital World Investors owned 10.32% of Cloudflare worth $3,812,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Larson Financial Group LLC lifted its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the last quarter. 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 buying an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after buying an additional 217 shares during the last quarter. Whittier Trust Co. grew its position in shares of Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after buying an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new position in shares of Cloudflare in the 4th quarter valued at $65,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 2,311 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $107.75, for a total value of $249,010.25. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $44,545,250.75. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 548,253 shares of company stock valued at $70,819,909. Insiders own 12.83% of the company's stock.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Piper Sandler dropped their price target on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Susquehanna raised their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Morgan Stanley cut their target price on shares of Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $134.84.

Cloudflare Price Performance

Shares of NET stock traded up $4.80 during midday trading on Tuesday, reaching $106.91. 2,475,585 shares of the company traded hands, compared to its average volume of 3,178,476. The firm's 50 day simple moving average is $125.32 and its two-hundred day simple moving average is $114.83. The firm has a market cap of $36.89 billion, a PE ratio of -485.95 and a beta of 1.59. 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, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data 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%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.