Cloudflare, Inc. (NYSE:NET) Shares Acquired by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,706 shares of the company’s stock after purchasing an additional 1,052 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Cloudflare were worth $3,525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NET. Emerald Advisers LLC grew its stake in shares of Cloudflare by 34.7% during the fourth quarter. Emerald Advisers LLC now owns 5,209 shares of the company’s stock worth $561,000 after acquiring an additional 1,343 shares during the last quarter. LPL Financial LLC grew its position in Cloudflare by 3.4% during the 4th quarter. LPL Financial LLC now owns 122,171 shares of the company’s stock worth $13,155,000 after purchasing an additional 3,989 shares during the last quarter. Mosley Wealth Management acquired a new position in Cloudflare during the 4th quarter valued at approximately $206,000. Fox Run Management L.L.C. raised its holdings in shares of Cloudflare by 9.6% in the fourth quarter. Fox Run Management L.L.C. now owns 20,529 shares of the company’s stock worth $2,211,000 after buying an additional 1,798 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Cloudflare during the fourth quarter worth $11,834,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Up 4.2 %

NET stock opened at $124.22 on Tuesday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The business’s 50-day moving average is $137.01 and its 200 day moving average is $110.56. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued 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%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NET. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. JMP Securities lifted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $131.64.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total transaction 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. The trade was a 12.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 566,766 shares of company stock valued at $73,779,200 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

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.