Polymer Capital Management HK LTD Purchases 6,291 Shares of Cloudflare, Inc. (NYSE:NET)

Polymer Capital Management HK LTD raised its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 100.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,541 shares of the company's stock after acquiring an additional 6,291 shares during the period. Polymer Capital Management HK LTD's holdings in Cloudflare were worth $1,350,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after purchasing an additional 68,661 shares during the last quarter. Groupama Asset Managment acquired a new stake in Cloudflare in the fourth quarter valued at approximately $269,200,000. Norges Bank acquired a new stake in Cloudflare in the fourth quarter valued at approximately $249,544,000. American Century Companies Inc. grew its stake in shares of Cloudflare by 82.0% during the fourth 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. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock worth $138,516,000 after buying an additional 23,641 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler cut their price objective on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday. Oppenheimer began coverage on Cloudflare in a report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. The Goldman Sachs Group cut their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $134.88.

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Cloudflare Stock Down 0.5 %

NYSE NET traded down $0.48 on Friday, hitting $105.02. 1,503,862 shares of the company were exchanged, compared to its average volume of 3,174,515. 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 cap of $36.24 billion, a PE ratio of -473.44 and a beta of 1.59. The stock has a fifty day moving average of $132.54 and a 200-day moving average of $113.34. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CAO Janel Riley sold 4,327 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 2,311 shares of Cloudflare stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total value of $249,010.25. Following the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $44,545,250.75. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 561,973 shares of company stock valued at $73,056,260. Company insiders own 12.83% of the company's stock.

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.