Hartline Investment Corp Has $28.46 Million Position in Cloudflare, Inc. (NYSE:NET)

Hartline Investment Corp raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,336 shares of the company's stock after acquiring an additional 3,957 shares during the quarter. Cloudflare makes up 3.3% of Hartline Investment Corp's portfolio, making the stock its 9th biggest holding. Hartline Investment Corp owned approximately 0.08% of Cloudflare worth $28,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after acquiring an additional 29,960 shares during the last quarter. Swiss National Bank increased 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 acquiring an additional 10,100 shares during the last quarter. National Pension Service increased its stake in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after acquiring an additional 4,062 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in Cloudflare by 16.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock worth $42,602,000 after acquiring an additional 56,906 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 528,970 shares of company stock valued at $59,959,801 over the last quarter. Insiders own 12.83% of the company's stock.

Cloudflare Stock Down 3.1 %

Shares of NET stock traded down $5.52 during trading hours on Friday, hitting $170.98. 3,555,331 shares of the company were exchanged, compared to its average volume of 3,862,415. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business's 50-day simple moving average is $125.30 and its two-hundred day simple moving average is $100.14. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The stock has a market capitalization of $58.68 billion, a price-to-earnings ratio of -777.19 and a beta of 1.12.

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 return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts predict that Cloudflare, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Needham & Company LLC upped their price target on Cloudflare from $110.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Guggenheim upped 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. Baird R W downgraded Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. JMP Securities upped their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada upped their target price on Cloudflare from $123.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average target price of $135.28.

Cloudflare 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.