Knights of Columbus Asset Advisors LLC Purchases Shares of 7,657 Cloudflare, Inc. (NYSE:NET)

Knights of Columbus Asset Advisors LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,657 shares of the company's stock, valued at approximately $825,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. increased its holdings in Cloudflare by 19.1% in the fourth quarter. Sei Investments Co. now owns 219,090 shares of the company's stock valued at $23,592,000 after buying an additional 35,198 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. Vestor Capital LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at approximately $5,603,000. Whittier Trust Co. lifted its stake in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Cloudflare by 32.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,650 shares of the company's stock worth $285,000 after purchasing an additional 650 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NET. Oppenheimer assumed coverage on shares of Cloudflare in a research report on Thursday, March 20th. They issued an "outperform" rating and a $150.00 price target on the stock. Robert W. Baird reissued a "neutral" rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and upped their target price for the company from $60.00 to $160.00 in a report on Tuesday. Wells Fargo & Company raised their price target on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Finally, Truist Financial upped their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $135.64.

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Cloudflare Price Performance

NET traded down $2.53 during trading on Thursday, hitting $118.62. 2,272,713 shares of the stock traded hands, compared to its average volume of 3,037,333. The business has a 50 day moving average price of $137.52 and a 200 day moving average price of $111.05. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. 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 cap of $40.93 billion, a price-to-earnings ratio of -539.17 and a beta of 1.27.

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

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,640 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the completion of the sale, the insider now directly owns 413,413 shares of the company's stock, valued at $48,509,881.42. This trade represents a 5.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the transaction, the chief executive officer now owns 10,762 shares of the company's stock, valued at approximately $1,226,652.76. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 618,046 shares of company stock worth $80,142,792 in the last quarter. Insiders own 12.83% of the company's stock.

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.