OFI Invest Asset Management Takes Position in Cloudflare, Inc. (NYSE:NET)

OFI Invest Asset Management purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,048 shares of the company's stock, valued at approximately $525,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the 3rd quarter worth $38,000. Quarry LP increased its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC increased 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 last quarter. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Cloudflare by 59.0% in the 4th 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 last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at approximately $28,503,393.68. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business'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 sale, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,406 shares of company stock worth $76,705,729 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently commented on NET shares. Needham & Company LLC reaffirmed a "buy" rating and set a $185.00 price target on shares of Cloudflare in a research report on Tuesday, February 18th. Robert W. Baird reissued a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Mizuho upped their price target on Cloudflare from $130.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Oppenheimer downgraded Cloudflare from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Finally, Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $136.28.

Cloudflare Stock Down 0.7 %

NYSE:NET traded down $0.89 during mid-day trading on Wednesday, hitting $119.18. The stock had a trading volume of 6,764,018 shares, compared to its average volume of 3,014,111. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The stock has a 50-day simple moving average of $136.21 and a two-hundred day simple moving average of $108.20. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $41.13 billion, a PE ratio of -541.73 and a beta of 1.27.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.