Chesapeake Capital Corp IL Takes $529,000 Position in Cloudflare, Inc. (NYSE:NET)

Chesapeake Capital Corp IL bought a new stake in Cloudflare, Inc. (NYSE:NETFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,350 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. Norges Bank acquired a new stake in Cloudflare in the 4th quarter valued at approximately $221,858,000. Vanguard Group Inc. grew its holdings in Cloudflare by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock valued at $1,728,448,000 after buying an additional 395,363 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Cloudflare in the 4th quarter valued at approximately $27,288,000. Los Angeles Capital Management LLC grew its holdings in Cloudflare by 5,451.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 188,370 shares of the company’s stock valued at $15,684,000 after buying an additional 184,977 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $9,165,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

NET traded up $0.57 during trading on Monday, hitting $74.19. The company’s stock had a trading volume of 1,745,300 shares, compared to its average volume of 3,759,320. The firm’s 50 day moving average price is $86.64 and its two-hundred day moving average price is $85.15. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of -139.98 and a beta of 1.15.

Cloudflare (NYSE:NETGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. Sell-side analysts forecast that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $74.08, for a total value of $949,705.60. Following the completion of the sale, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at approximately $15,660,067.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Maria S. Eitel sold 6,875 shares of Cloudflare stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $98.51, for a total transaction of $677,256.25. Following the completion of the sale, the director now directly owns 23,513 shares of the company’s stock, valued at $2,316,265.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $74.08, for a total value of $949,705.60. Following the sale, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at $15,660,067.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 737,710 shares of company stock valued at $64,674,930. Company insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of several recent research reports. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, May 7th. Bank of America lifted their price objective on Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a report on Friday, May 3rd. Oppenheimer decreased their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. TD Cowen decreased their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $120.00 price objective on shares of Cloudflare in a report on Tuesday, May 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $91.87.

Check Out Our Latest Stock Report on Cloudflare

Cloudflare Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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