E Fund Management Co. Ltd. Invests $277,000 in Cloudflare, Inc. (NYSE:NET)

E Fund Management Co. Ltd. bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,569 shares of the company's stock, valued at approximately $277,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $38,000. 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 purchasing an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth $54,000. Versant Capital Management Inc grew 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 buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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 buying an additional 217 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,503,393.68. This represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 175,688 shares of the company's stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 597,406 shares of company stock valued at $76,705,729 over the last ninety days. Insiders own 12.83% of the company's stock.

Remove Ads

Analysts Set New Price Targets

NET has been the subject of several research analyst reports. Susquehanna increased their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Morgan Stanley raised their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. UBS Group boosted their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus price target of $136.28.

Cloudflare Price Performance

NYSE NET traded up $4.59 on Tuesday, hitting $121.20. The company had a trading volume of 1,853,742 shares, compared to its average volume of 2,981,751. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company's fifty day moving average price is $135.96 and its 200-day moving average price is $107.94. The company has a market capitalization of $41.82 billion, a PE ratio of -550.87 and a beta of 1.27. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

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

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.