Cloudflare, Inc. (NYSE:NET) Shares Bought by Prudential PLC

Prudential PLC grew its holdings in Cloudflare, Inc. (NYSE:NETFree Report) by 33.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,406 shares of the company’s stock after buying an additional 2,381 shares during the period. Prudential PLC’s holdings in Cloudflare were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Cloudflare in the 4th quarter valued at about $39,000. Pingora Partners LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $42,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Cloudflare by 1,976.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Cloudflare by 98.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Cloudflare during the fourth quarter worth $55,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Up 1.4 %

Cloudflare stock opened at $71.70 on Tuesday. The firm has a market capitalization of $24.36 billion, a P/E ratio of -135.28 and a beta of 1.08. The stock’s fifty day simple moving average is $80.97 and its 200-day simple moving average is $85.37. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NETGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. As a group, equities analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NET shares. Morgan Stanley raised their target price on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Wells Fargo & Company reduced their target price on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada dropped their price target on shares of Cloudflare from $108.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. UBS Group reduced their price target on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research report on Friday, May 3rd. Finally, Mizuho lowered their price objective on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.70.

Read Our Latest Analysis on NET

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $94.25, for a total value of $4,937,192.00. Following the sale, the chief executive officer now directly owns 12,183 shares of the company’s stock, valued at approximately $1,148,247.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $69.12, for a total transaction of $1,036,800.00. Following the completion of the sale, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at approximately $21,422,845.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $94.25, for a total value of $4,937,192.00. Following the completion of the transaction, the chief executive officer now owns 12,183 shares in the company, valued at approximately $1,148,247.75. The disclosure for this sale can be found here. Insiders sold 624,717 shares of company stock worth $52,903,660 over the last 90 days. 12.83% of the stock is owned by insiders.

Cloudflare Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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