Teachers Retirement System of The State of Kentucky Has $23.27 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Teachers Retirement System of The State of Kentucky raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 12.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 216,081 shares of the company's stock after buying an additional 23,700 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Cloudflare worth $23,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MML Investors Services LLC boosted its position in shares of Cloudflare by 7.7% during the fourth quarter. MML Investors Services LLC now owns 30,658 shares of the company's stock worth $3,301,000 after buying an additional 2,186 shares during the period. Ossiam boosted its position in Cloudflare by 9.7% during the 4th quarter. Ossiam now owns 3,514 shares of the company's stock worth $378,000 after acquiring an additional 310 shares during the period. Capital International Inc. CA increased its holdings in shares of Cloudflare by 7.1% during the fourth quarter. Capital International Inc. CA now owns 107,398 shares of the company's stock valued at $11,565,000 after purchasing an additional 7,083 shares during the period. Capital World Investors increased its holdings in shares of Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the period. Finally, Curi RMB Capital LLC raised its stake in shares of Cloudflare by 6.7% during the fourth quarter. Curi RMB Capital LLC now owns 101,199 shares of the company's stock valued at $10,897,000 after purchasing an additional 6,378 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

NYSE:NET traded up $2.16 during trading hours on Friday, hitting $121.03. 2,593,471 shares of the company traded hands, compared to its average volume of 3,977,609. The firm has a 50-day moving average of $122.77 and a 200 day moving average of $114.76. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of -550.14 and a beta of 1.59. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued 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%. On average, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Cloudflare in a research report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target on the stock. JMP Securities upped their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Wells Fargo & Company upped their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $134.84.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 2,311 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $107.75, for a total transaction of $249,010.25. Following the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at approximately $44,545,250.75. This represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 496,973 shares of company stock valued at $64,559,903. 12.83% of the stock is currently owned by insiders.

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.