Teachers Retirement System of The State of Kentucky Grows Stake in Cloudflare, Inc. (NYSE:NET)

Teachers Retirement System of The State of Kentucky boosted its position in shares of Cloudflare, Inc. (NYSE:NET) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 216,081 shares of the company’s stock after purchasing an additional 23,700 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Cloudflare worth $23,267,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MML Investors Services LLC boosted its position in shares of Cloudflare by 7.7% in the 4th quarter. MML Investors Services LLC now owns 30,658 shares of the company’s stock worth $3,301,000 after buying an additional 2,186 shares in the last quarter. Ossiam lifted its holdings in shares of Cloudflare by 9.7% in the fourth quarter. Ossiam now owns 3,514 shares of the company’s stock valued at $378,000 after purchasing an additional 310 shares in the last quarter. Capital International Inc. CA lifted its holdings in shares of Cloudflare by 7.1% in the fourth quarter. Capital International Inc. CA now owns 107,398 shares of the company’s stock valued at $11,565,000 after purchasing an additional 7,083 shares in the last quarter. Capital World Investors grew its position in shares of Cloudflare by 0.7% in the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Finally, Curi RMB Capital LLC increased its stake in shares of Cloudflare by 6.7% during the 4th quarter. Curi RMB Capital LLC now owns 101,199 shares of the company’s stock worth $10,897,000 after purchasing an additional 6,378 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $107.81 on Monday. The company has a market cap of $37.20 billion, a P/E ratio of -490.03 and a beta of 1.59. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The business’s 50-day simple moving average is $126.73 and its 200 day simple moving average is $114.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 579,389 shares of company stock valued at $74,559,343 in the last ninety days. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NET. Robert W. Baird reiterated a “neutral” rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Oppenheimer began coverage on shares of Cloudflare in a research note on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective on the stock. UBS Group reduced their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research report on Tuesday, February 11th. Finally, Susquehanna increased their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $134.84.

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.