Cloudflare, Inc. (NYSE:NET) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in Cloudflare, Inc. (NYSE:NET) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,552 shares of the company’s stock after acquiring an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Cloudflare were worth $2,536,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP grew its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC bought a new position in Cloudflare in the 3rd quarter worth approximately $54,000. Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Cloudflare by 59.0% during 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 in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,216,106. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 571,766 shares of company stock worth $73,804,307 in the last quarter. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research analyst reports. DZ Bank lowered Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Tuesday, February 11th. JMP Securities raised their target price on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Mizuho reduced their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus price target of $130.92.

Cloudflare Trading Down 5.0 %

NET opened at $113.38 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market capitalization of $39.12 billion, a price-to-earnings ratio of -515.35 and a beta of 1.27. The company’s 50 day moving average price is $136.44 and its two-hundred day moving average price is $108.28.

Cloudflare (NYSE:NET) last announced its earnings results 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%. As a group, research analysts predict 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.