Everence Capital Management Inc. Invests $803,000 in Cloudflare, Inc. (NYSE:NET)

Everence Capital Management Inc. bought a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,460 shares of the company's stock, valued at approximately $803,000.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after acquiring an additional 217 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after purchasing an additional 170 shares during the last quarter. Tidal Investments LLC raised its position in Cloudflare by 18.0% in the 3rd quarter. Tidal Investments LLC now owns 23,238 shares of the company's stock worth $1,880,000 after purchasing an additional 3,550 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Cloudflare in the third quarter worth $204,000. Finally, Sanctuary Advisors LLC lifted its stake in Cloudflare by 37.2% in the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company's stock worth $1,143,000 after purchasing an additional 3,835 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.9 %

Shares of Cloudflare stock traded up $2.19 during trading on Friday, hitting $114.73. The company's stock had a trading volume of 3,156,337 shares, compared to its average volume of 3,564,769. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $119.42. 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 company has a fifty day simple moving average of $102.82 and a two-hundred day simple moving average of $89.16. The company has a market capitalization of $39.37 billion, a PE ratio of -441.27 and a beta of 1.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $1,010,995.95. This represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company's stock, valued at $28,503,393.68. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 614,592 shares of company stock worth $60,146,600. 12.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NET has been the topic of several analyst reports. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective on the stock. Piper Sandler lifted their price target on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded shares of Cloudflare from a "sell" rating to a "buy" rating and raised their target price for the stock from $77.00 to $140.00 in a report on Thursday. Finally, Royal Bank of Canada upped their price target on shares of Cloudflare from $99.00 to $123.00 and gave the company an "outperform" rating in a report on Friday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare has a consensus rating of "Hold" and a consensus target price of $101.37.

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.