Cloudflare, Inc. (NYSE:NET) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 169.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,293 shares of the company's stock after acquiring an additional 113,986 shares during the period. Russell Investments Group Ltd. owned approximately 0.05% of Cloudflare worth $19,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP lifted its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc grew its position in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC increased its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Finally, Whittier Trust Co. raised its position in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 31,136 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total value of $3,739,433.60. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $30,369,566.90. This trade represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $59,279,290.07. The trade was a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 561,973 shares of company stock worth $73,056,260. Corporate insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NET shares. Mizuho cut their target price on Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Cantor Fitzgerald raised their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group decreased their price objective on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $134.88.

Cloudflare Stock Up 1.3 %

NET stock traded up $1.37 during trading on Monday, hitting $107.62. 1,779,017 shares of the company's stock traded hands, compared to its average volume of 3,184,199. The firm has a market capitalization of $37.14 billion, a P/E ratio of -489.18 and a beta of 1.59. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $131.85 and a two-hundred day simple moving average of $113.71.

Cloudflare (NYSE:NET - Get Free Report) last issued 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 return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.