Generali Asset Management SPA SGR Buys New Position in Cloudflare, Inc. (NYSE:NET)

Generali Asset Management SPA SGR purchased a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,524 shares of the company’s stock, valued at approximately $1,133,000.

A number of other large investors also recently modified their holdings of NET. Quarry LP increased its position in Cloudflare by 38.6% during the third 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 stake in Cloudflare in the 3rd quarter valued at $54,000. Larson Financial Group LLC boosted its holdings 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 purchasing an additional 517 shares during the period. Versant Capital Management Inc boosted its holdings in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its holdings 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 purchasing an additional 217 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NET shares. Stifel Nicolaus increased their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Guggenheim increased their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $131.64.

Cloudflare Trading Up 0.3 %

NET opened at $117.89 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $40.68 billion, a PE ratio of -535.85 and a beta of 1.27. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a 50-day moving average price of $136.61 and a two-hundred day moving average price of $109.54.

Cloudflare (NYSE:NET) last posted 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, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,766 shares of company stock worth $72,579,200 in the last quarter. 12.83% of the stock is owned by company 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.