Generali Asset Management SPA SGR Acquires New Stake in Cloudflare, Inc. (NYSE:NET)

Generali Asset Management SPA SGR acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,524 shares of the company's stock, valued at approximately $1,133,000.

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. grew its position in Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after acquiring an additional 77 shares during the period. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock worth $293,000 after purchasing an additional 105 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company's stock worth $2,269,000 after buying an additional 106 shares during the period. Finally, Amalgamated Bank increased its stake in Cloudflare by 0.5% in the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company's stock valued at $2,154,000 after purchasing an additional 107 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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Cloudflare Stock Up 2.6 %

Shares of NYSE:NET traded up $3.23 during trading hours on Tuesday, hitting $127.16. The company's stock had a trading volume of 6,068,594 shares, compared to its average volume of 4,081,427. The firm's fifty day moving average price is $137.01 and its 200 day moving average price is $110.56. 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 has a market capitalization of $43.88 billion, a price-to-earnings ratio of -578.00 and a beta of 1.27. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its 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, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company's stock, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction dated 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 directly owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock valued at $73,779,200 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NET. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $60.00 to $160.00 in a research report on Tuesday. Susquehanna upped their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Oppenheimer assumed coverage on Cloudflare in a research note on Thursday, March 20th. They set an "outperform" rating and a $150.00 target price for the company. Morgan Stanley started coverage on shares of Cloudflare in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Needham & Company LLC lowered their price objective on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Cloudflare has a consensus rating of "Hold" and an average 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.