Intech Investment Management LLC Acquires 661 Shares of Cloudflare, Inc. (NYSE:NET)

Intech Investment Management LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 14,242 shares of the company’s stock after buying an additional 661 shares during the quarter. Intech Investment Management LLC’s holdings in Cloudflare were worth $1,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. OneDigital Investment Advisors LLC raised its position in Cloudflare by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after purchasing an additional 137 shares during the last quarter. Empowered Funds LLC raised its position in shares of Cloudflare by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after acquiring an additional 313 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cloudflare in the 3rd quarter worth approximately $54,000. Pathstone Holdings LLC raised its position in shares of Cloudflare by 5.2% in the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after acquiring an additional 1,200 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cloudflare in the 3rd quarter worth approximately $591,000. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at $20,824,263.60. This trade represents a 12.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock worth $73,779,200 in the last ninety days. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NET shares. The Goldman Sachs Group decreased their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Wells Fargo & Company increased their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Mizuho cut their price target on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $131.64.

Cloudflare Stock Performance

Shares of NET opened at $118.95 on Friday. The business’s fifty day simple moving average is $136.73 and its two-hundred day simple moving average is $109.79. 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. The company has a market cap of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its quarterly earnings results 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%. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare 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.