Groupama Asset Managment Makes New $269.20 Million Investment in Cloudflare, Inc. (NYSE:NET)

Groupama Asset Managment purchased a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,500,000 shares of the company's stock, valued at approximately $269,200,000. Cloudflare accounts for approximately 2.0% of Groupama Asset Managment's investment portfolio, making the stock its 14th largest position. Groupama Asset Managment owned 0.73% of Cloudflare as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after acquiring an additional 133 shares during the period. Larson Financial Group LLC boosted its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc increased its holdings in shares of Cloudflare by 44.9% in the fourth 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. GAMMA Investing LLC raised its position in shares of 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 during the period. Finally, Sava Infond d.o.o. acquired a new stake in shares of Cloudflare during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 82.68% of the company's stock.

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Wall Street Analysts Forecast Growth

NET has been the topic of a number of research reports. Scotiabank upped their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and increased their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Wells Fargo & Company boosted their price target on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. UBS Group lowered their price objective on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald boosted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and a consensus price target of $135.64.

Cloudflare Price Performance

Shares of NET traded up $4.19 during mid-day trading on Wednesday, reaching $119.85. The company had a trading volume of 4,203,970 shares, compared to its average volume of 3,097,318. The company's 50 day simple moving average is $137.24 and its 200 day simple moving average is $112.34. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of -544.77 and a beta of 1.27. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the transaction, the insider now owns 188,406 shares in the company, valued at approximately $21,257,848.98. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 627,046 shares of company stock worth $81,158,262. 12.83% of the stock is currently owned by insiders.

About Cloudflare

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.