Cloudflare, Inc. (NYSE:NET) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,221,760 shares of the company's stock after acquiring an additional 63,945 shares during the period. Charles Schwab Investment Management Inc. owned about 0.36% of Cloudflare worth $131,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after buying an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 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. Swiss National Bank lifted its stake in Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company's stock worth $72,283,000 after purchasing an additional 10,100 shares during the last quarter. Peregrine Capital Management LLC boosted its holdings in Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company's stock valued at $71,250,000 after purchasing an additional 2,483 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in Cloudflare by 16.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock valued at $42,602,000 after purchasing an additional 56,906 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

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Analyst Upgrades and Downgrades

NET has been the subject of several research analyst reports. The Goldman Sachs Group upped their target price on shares of Cloudflare from $140.00 to $183.00 and gave the company a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on Cloudflare from $123.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Susquehanna lifted their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Scotiabank raised their target price 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. Finally, Guggenheim boosted their target price on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Four equities 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 stock. Based on data from MarketBeat, Cloudflare has an average rating of "Hold" and a consensus target price of $136.28.

Cloudflare Stock Down 0.8 %

Shares of NET traded down $0.94 during mid-day trading on Wednesday, reaching $119.13. 5,187,866 shares of the stock traded hands, compared to its average volume of 3,010,033. The stock has a fifty day simple moving average of $136.21 and a 200 day simple moving average of $108.20. 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. The firm has a market cap of $41.11 billion, a price-to-earnings ratio of -542.57 and a beta of 1.27.

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%. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $113.16, for a total value of $2,901,422.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $19,572,040.44. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 597,406 shares of company stock worth $76,705,729. 12.83% of the stock is currently owned by corporate 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.