AIA Group Ltd Has $1.46 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

AIA Group Ltd lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 55.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,504 shares of the company’s stock after acquiring an additional 6,244 shares during the period. AIA Group Ltd’s holdings in Cloudflare were worth $1,457,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in shares of Cloudflare during the first quarter worth $29,000. Providence Capital Advisors LLC raised its stake in Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Cloudflare by 98.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after purchasing an additional 296 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Cloudflare in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

NYSE:NET opened at $86.16 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock’s 50-day moving average is $96.86 and its 200-day moving average is $81.63. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00.

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

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the transaction, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the transaction, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now directly owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold 1,095,707 shares of company stock worth $106,154,633 over the last ninety days. Insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Mizuho dropped their price target on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company boosted their price target on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Sanford C. Bernstein began coverage on Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price on the stock. Finally, Capital One Financial began coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.08.

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.