Groupama Asset Managment Invests $269.20 Million in Cloudflare, Inc. (NYSE:NET)

Groupama Asset Managment purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,500,000 shares of the company’s stock, valued at approximately $269,200,000. Cloudflare accounts for 2.0% of Groupama Asset Managment’s investment portfolio, making the stock its 14th largest holding. Groupama Asset Managment owned about 0.73% of Cloudflare at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Hartline Investment Corp lifted its position in Cloudflare by 1.5% during the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after buying an additional 3,957 shares during the period. Birchcreek Wealth Management LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at approximately $215,000. Strategic Blueprint LLC bought a new position in shares of Cloudflare during the 4th quarter valued at $265,000. Clarendon Private LLC purchased a new position in shares of Cloudflare in the 4th quarter worth $293,000. Finally, Savant Capital LLC bought a new stake in shares of Cloudflare in the fourth quarter worth $237,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NET. Truist Financial increased their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. JMP Securities increased their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Morgan Stanley started coverage on shares of Cloudflare in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Stifel Nicolaus increased their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $135.64.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $28,779,020.89. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 618,046 shares of company stock worth $80,142,792. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 1.9 %

Shares of NYSE NET opened at $112.77 on Tuesday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market cap of $38.91 billion, a P/E ratio of -512.57 and a beta of 1.27. The firm has a 50-day simple moving average of $137.39 and a two-hundred day simple moving average of $112.03. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share 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 year.

About Cloudflare

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.