Cloudflare, Inc. (NYSE:NET) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,179 shares of the company’s stock after buying an additional 393 shares during the period. Metis Global Partners LLC’s holdings in Cloudflare were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quarry LP increased its holdings 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 buying an additional 133 shares during the last quarter. 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 buying an additional 170 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were 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 owns 10,762 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 623,046 shares of company stock valued at $79,594,844. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Scotiabank lifted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Guggenheim lifted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Trading Up 1.9 %

Shares of Cloudflare stock opened at $143.67 on Thursday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week 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 company’s 50-day simple moving average is $134.50 and its 200-day simple moving average is $106.61. The firm has a market cap of $49.58 billion, a price-to-earnings ratio of -653.05 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings results 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, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share 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.