9,852 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Duality Advisers LP

Duality Advisers LP acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,852 shares of the company’s stock, valued at approximately $820,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG raised its holdings in Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cloudflare in the third quarter worth $569,000. International Assets Investment Management LLC acquired a new position in shares of Cloudflare in the fourth quarter worth $11,639,000. Blueshift Asset Management LLC raised its holdings in shares of Cloudflare by 100.2% in the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after acquiring an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier raised its holdings in shares of Cloudflare by 4.5% in the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after acquiring an additional 17,600 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Down 0.2 %

NYSE:NET opened at $87.68 on Thursday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average is $95.72 and its two-hundred day moving average is $82.47. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NET. Wells Fargo & Company boosted their price target on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Morgan Stanley upped their target price on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Truist Financial upped their target price on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Susquehanna upped their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.08.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now directly owns 216,114 shares in the company, valued at approximately $23,789,829.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,341 shares of company stock valued at $101,013,542 in the last quarter. Insiders own 14.80% of the company’s stock.

Cloudflare Company Profile

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.