Farringdon Capital Ltd. Purchases New Holdings in Cloudflare, Inc. (NYSE:NET)

Farringdon Capital Ltd. bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,922 shares of the company's stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment acquired a new position in Cloudflare during the fourth quarter valued at approximately $269,200,000. Norges Bank acquired a new stake in Cloudflare in the 4th quarter valued at $249,544,000. American Century Companies Inc. raised its position in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. Invesco Ltd. boosted its position in shares of Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock worth $116,178,000 after buying an additional 804,059 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Cloudflare by 454.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 879,088 shares of the company's stock valued at $94,660,000 after buying an additional 720,568 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

Cloudflare stock traded up $4.80 during mid-day trading on Tuesday, hitting $106.91. 2,475,585 shares of the company's stock traded hands, compared to its average volume of 3,176,378. The company has a market cap of $36.89 billion, a PE ratio of -485.95 and a beta of 1.59. The firm has a 50 day moving average price of $125.32 and a 200 day moving average price of $114.83. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NET. Bank of America upgraded shares of Cloudflare from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Needham & Company LLC lowered their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. JMP Securities lifted their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Finally, Morgan Stanley decreased their price target on shares of Cloudflare from $154.00 to $144.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has an average rating of "Hold" and a consensus price target of $134.84.

Insider Activity

In related news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company's stock, valued at $20,824,263.60. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 548,253 shares of company stock worth $70,819,909. 12.83% of the stock is owned by company insiders.

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.