Royal London Asset Management Ltd. Acquires 20,990 Shares of Cloudflare, Inc. (NYSE:NET)

Royal London Asset Management Ltd. lifted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,891 shares of the company's stock after purchasing an additional 20,990 shares during the period. Royal London Asset Management Ltd.'s holdings in Cloudflare were worth $15,279,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its stake 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 buying an additional 133 shares during the last quarter. Quest Partners LLC bought a new stake in Cloudflare in the third quarter valued at about $54,000. Larson Financial Group LLC lifted its stake 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 buying an additional 517 shares during the period. Versant Capital Management Inc boosted its stake 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 acquiring an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the transaction, the chief executive officer now owns 10,762 shares of the company's stock, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. The trade was 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 566,766 shares of company stock valued at $73,779,200. 12.83% of the stock is owned by insiders.

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Cloudflare Stock Performance

NET stock traded up $3.23 during trading hours on Tuesday, reaching $127.16. The stock had a trading volume of 6,069,582 shares, compared to its average volume of 3,032,930. The stock has a market capitalization of $43.88 billion, a PE ratio of -578.00 and a beta of 1.27. The stock has a 50-day simple moving average of $137.01 and a 200 day simple moving average of $110.56. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. 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 (NYSE:NET - Get Free Report) last posted its quarterly earnings results 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%. Analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NET shares. Needham & Company LLC decreased their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Mizuho lowered their price target on Cloudflare from $160.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price objective on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Truist Financial increased their target price on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group lifted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $135.64.

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.