Cloudflare, Inc. (NYSE:NET) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 223,316 shares of the company's stock after purchasing an additional 24,928 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Cloudflare worth $25,621,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after buying an additional 517 shares during the period. Versant Capital Management Inc lifted its holdings in 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 in the last quarter. GAMMA Investing LLC boosted its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after buying an additional 217 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

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Cloudflare Stock Performance

NYSE NET traded down $11.44 during trading on Thursday, reaching $108.11. The company's stock had a trading volume of 2,905,659 shares, compared to its average volume of 3,096,939. The business's fifty day moving average price is $137.24 and its 200-day moving average price is $112.34. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. 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 firm has a market cap of $37.31 billion, a price-to-earnings ratio of -491.41 and a beta of 1.27.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,099 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, 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 a total of 627,046 shares of company stock worth $81,158,262 in the last three months. Insiders own 12.83% of the company's stock.

Analyst Ratings Changes

NET has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their target price on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Oppenheimer initiated coverage on Cloudflare in a research note on Thursday, March 20th. They issued an "outperform" rating and a $150.00 price objective for the company. Mizuho cut their target price on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group lifted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus price target of $135.64.

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.