Daiwa Securities Group Inc. Raises Position in Cloudflare, Inc. (NYSE:NET)

Daiwa Securities Group Inc. increased its holdings in Cloudflare, Inc. (NYSE:NET) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,652 shares of the company’s stock after buying an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Cloudflare were worth $1,470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NET. CWM LLC raised its position in shares of Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after buying an additional 153 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Cloudflare by 61.5% in the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock worth $90,000 after buying an additional 581 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Cloudflare by 377.1% in the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock worth $1,749,000 after buying an additional 21,930 shares in the last quarter. RFG Advisory LLC raised its position in Cloudflare by 2.9% during the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock valued at $376,000 after purchasing an additional 166 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Cloudflare by 5.9% during the third quarter. Exchange Traded Concepts LLC now owns 107,835 shares of the company’s stock valued at $6,798,000 after purchasing an additional 6,001 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 3.7 %

NYSE NET opened at $87.86 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The business’s 50-day moving average is $95.96 and its 200 day moving average is $82.29.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

NET has been the topic of a number of research reports. Capital One Financial initiated coverage on Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price target on the stock. JMP Securities raised their price target on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Susquehanna raised their price target on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.08.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 277,376 shares of Cloudflare stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the sale, the chief operating officer now directly owns 38,545 shares of the company’s stock, valued at approximately $3,899,597.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 277,376 shares of Cloudflare stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the sale, the chief operating officer now directly owns 38,545 shares of the company’s stock, valued at approximately $3,899,597.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the sale, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,152,389.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,036,341 shares of company stock valued at $101,013,542. 14.80% 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.