3,245 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,245 shares of the company's stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also modified their holdings of NET. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after buying an additional 133 shares during the period. Larson Financial Group LLC lifted its holdings in 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 acquiring an additional 517 shares during the period. Versant Capital Management Inc boosted its position in Cloudflare by 44.9% in 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 last quarter. GAMMA Investing LLC grew its stake in shares of 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, Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter worth approximately $54,000. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company's stock, valued at $1,226,652.76. The trade was a 82.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,779,020.89. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 566,766 shares of company stock valued at $73,779,200 in the last three months. Company insiders own 12.83% of the company's stock.

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Cloudflare Trading Up 0.9 %

Shares of NET stock traded up $1.01 on Friday, reaching $118.95. 4,321,599 shares of the company's stock were exchanged, compared to its average volume of 3,026,045. The company's fifty day simple moving average is $136.73 and its 200 day simple moving average is $110.24. The stock has a market capitalization of $41.05 billion, a PE ratio of -540.70 and a beta of 1.27. 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 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research note on Friday, February 7th. Jefferies Financial Group raised their price objective on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. Mizuho reduced their price objective on Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Susquehanna increased their target price on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $131.64.

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.