Nkcfo LLC Takes $323,000 Position in Cloudflare, Inc. (NYSE:NET)

Nkcfo LLC bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors also recently modified their holdings of NET. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the third quarter worth about $25,588,000. International Assets Investment Management LLC bought a new position in shares of Cloudflare in the third quarter worth about $147,160,000. Parnassus Investments LLC raised its stake in shares of Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company's stock worth $11,196,000 after acquiring an additional 131,319 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Finally, Generate Investment Management Ltd bought a new position in shares of Cloudflare in the fourth quarter worth about $12,946,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 4.9 %

Shares of Cloudflare stock traded down $8.33 on Wednesday, hitting $160.48. The company had a trading volume of 5,536,314 shares, compared to its average volume of 3,955,991. The firm has a market capitalization of $55.07 billion, a P/E ratio of -729.45 and a beta of 1.12. 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 stock has a 50-day moving average of $128.51 and a 200-day moving average of $102.19.

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%. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the sale, the chief operating officer now directly owns 172,959 shares of the company's stock, valued at approximately $17,372,001.96. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $27,790,303.10. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 533,297 shares of company stock worth $62,604,696. 12.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NET has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. JMP Securities boosted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Mizuho boosted their price target on shares of Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Oppenheimer downgraded shares of Cloudflare from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $136.28.

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.