Qtron Investments LLC Makes New $620,000 Investment in Cloudflare, Inc. (NYSE:NET)

Qtron Investments LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,758 shares of the company’s stock, valued at approximately $620,000.

Several other large investors have also modified their holdings of the stock. Covestor Ltd lifted its holdings in Cloudflare by 29.5% during the 4th quarter. Covestor Ltd now owns 1,202 shares of the company’s stock worth $130,000 after buying an additional 274 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Cloudflare by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 131,876 shares of the company’s stock worth $14,200,000 after purchasing an additional 830 shares during the last quarter. APG Asset Management US Inc. acquired a new position in Cloudflare in the fourth quarter worth $1,032,000. Faithward Advisors LLC increased its stake in Cloudflare by 2.1% during the fourth quarter. Faithward Advisors LLC now owns 45,762 shares of the company’s stock valued at $4,928,000 after purchasing an additional 950 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Cloudflare by 981.2% during the fourth quarter. APG Asset Management N.V. now owns 179,271 shares of the company’s stock worth $18,642,000 after purchasing an additional 162,691 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated 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 owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,973 shares of company stock valued at $73,056,260. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NET. Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and lifted their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. The Goldman Sachs Group cut their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group lowered their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Finally, Jefferies Financial Group increased their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $134.88.

Cloudflare Stock Performance

Shares of NYSE NET opened at $105.94 on Friday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of -481.56 and a beta of 1.59. 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 stock’s fifty day simple moving average is $131.85 and its 200 day simple moving average is $113.49.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.