Kazazian Asset Management LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Kazazian Asset Management LLC bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,500 shares of the company's stock, valued at approximately $269,000.

A number of other large investors have also bought and sold shares of NET. Parnassus Investments LLC raised its stake in shares of Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company's stock valued at $11,196,000 after purchasing an additional 131,319 shares during the period. Geode Capital Management LLC raised its stake in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock valued at $390,130,000 after purchasing an additional 121,810 shares during the period. Generate Investment Management Ltd bought a new stake in shares of Cloudflare during the 4th quarter valued at $12,946,000. Worldquant Millennium Advisors LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at $8,535,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at $100,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In related 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 transaction of $326,648.46. Following the completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the transaction, the chief executive officer now directly 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. In the last quarter, insiders sold 566,766 shares of company stock valued at $73,779,200. Corporate insiders own 12.83% of the company's stock.

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Cloudflare Trading Up 0.9 %

NYSE NET traded up $1.01 on Friday, hitting $118.95. The company's stock had a trading volume of 4,321,599 shares, compared to its average volume of 3,026,045. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. The company's 50-day simple moving average is $136.73 and its 200 day simple moving average is $110.24. 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 announced its earnings results 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 predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NET shares. Needham & Company LLC decreased their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird restated a "neutral" rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Guggenheim upped their target price on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley started coverage on Cloudflare in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Cloudflare currently has a consensus rating of "Hold" and a consensus price target of $131.64.

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.