Nkcfo LLC Purchases New Holdings in Cloudflare, Inc. (NYSE:NET)

Nkcfo LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,000 shares of the company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Cloudflare in the 3rd quarter valued at about $38,000. Quarry LP boosted its stake in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Versant Capital Management Inc increased its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake 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 acquiring an additional 217 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 528,970 shares of company stock valued at $59,959,801. 12.83% of the stock is owned by insiders.

Cloudflare Price Performance

NYSE NET opened at $170.98 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The business has a fifty day moving average price of $125.30 and a two-hundred day moving average price of $100.31. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on NET shares. Susquehanna upped their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Scotiabank raised their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Needham & Company LLC upped their target price on Cloudflare from $110.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $135.28.

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.