Howard Capital Management Inc. Purchases Shares of 2,055 Cloudflare, Inc. (NYSE:NET)

Howard Capital Management Inc. purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, Holdings Channel reports. The firm purchased 2,055 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP acquired a new stake in Cloudflare in the 3rd quarter valued at $38,000. Quarry LP increased its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in Cloudflare in the 3rd quarter valued at $54,000. Versant Capital Management Inc increased its stake 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 buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 buying an additional 217 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. Insiders sold a total of 533,278 shares of company stock worth $66,134,227 in the last three months. 12.83% of the stock is owned by corporate insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $143.22 on Wednesday. The firm has a 50 day moving average of $131.29 and a 200-day moving average of $104.42. The stock has a market capitalization of $49.15 billion, a PE ratio of -651.01 and a beta of 1.12. 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 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $136.28.

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.