IPG Investment Advisors LLC Buys Shares of 2,220 Cloudflare, Inc. (NYSE:NET)

IPG Investment Advisors LLC purchased a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,220 shares of the company's stock, valued at approximately $239,000.

A number of other hedge funds also recently bought and sold shares of NET. Geode Capital Management LLC increased its holdings in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Norges Bank purchased a new position in Cloudflare in the 4th quarter worth about $249,544,000. American Century Companies Inc. raised its position in Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock valued at $138,516,000 after acquiring an additional 23,641 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cloudflare by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company's stock valued at $131,559,000 after acquiring an additional 63,945 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NET. DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Mizuho dropped their price target on Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group reduced their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their target price on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $135.64.

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Cloudflare Price Performance

Shares of NYSE:NET traded up $4.19 during mid-day trading on Wednesday, reaching $119.85. The stock had a trading volume of 4,203,970 shares, compared to its average volume of 3,095,736. The business's 50 day moving average price is $137.39 and its 200 day moving average price is $112.03. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market cap of $41.36 billion, a P/E ratio of -544.77 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company's stock, valued at approximately $1,223,962.26. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 627,046 shares of company stock worth $81,158,262 over the last 90 days. 12.83% of the stock is 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.