Cloudflare, Inc. (NYSE:NET) Stake Increased by Whittier Trust Co.

Whittier Trust Co. raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 120.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602 shares of the company’s stock after acquiring an additional 329 shares during the quarter. Whittier Trust Co.’s holdings in Cloudflare were worth $65,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NET. Northwest & Ethical Investments L.P. grew its stake in Cloudflare by 32.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,650 shares of the company’s stock worth $285,000 after purchasing an additional 650 shares in the last quarter. Berkshire Capital Holdings Inc. lifted its holdings in Cloudflare by 885,600.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 88,570 shares of the company’s stock worth $9,537,000 after buying an additional 88,560 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Cloudflare in the 4th quarter worth approximately $307,000. Royal London Asset Management Ltd. increased its holdings in shares of Cloudflare by 17.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 141,891 shares of the company’s stock valued at $15,279,000 after acquiring an additional 20,990 shares during the last quarter. Finally, Kazazian Asset Management LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at approximately $269,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. UBS Group decreased their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. 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 research note on Thursday, December 19th. JMP Securities lifted their target price on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $131.64.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32. Following the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,223,962.26. This trade represents a 82.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 33,864 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,192,558.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 566,766 shares of company stock worth $73,779,200 in the last three months. 12.83% of the stock is currently owned by insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $124.22 on Tuesday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. 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 firm has a 50-day moving average of $137.01 and a two-hundred day moving average of $110.56. The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts expect 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.