Interval Partners LP Invests $3.29 Million in Cloudflare, Inc. (NYSE:NET)

Interval Partners LP bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 30,581 shares of the company’s stock, valued at approximately $3,293,000.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. CoreCap Advisors LLC raised its stake in Cloudflare by 218.4% in the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock valued at $60,000 after purchasing an additional 380 shares during the last quarter. GAMMA Investing LLC raised its stake in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares during the last quarter. Sava Infond d.o.o. acquired a new position in Cloudflare in the 4th quarter valued at $65,000. Finally, Whittier Trust Co. raised its stake in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NET. Oppenheimer increased their price objective on Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus raised their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Mizuho raised Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus target price of $142.57.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total transaction of $372,480.00. Following the completion of the transaction, the insider now directly owns 185,406 shares of the company’s stock, valued at approximately $23,020,008.96. This trade represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 492,492 shares of company stock valued at $63,757,685 in the last three months. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Trading Up 6.5%

Shares of NYSE NET opened at $132.42 on Monday. The stock’s 50 day moving average price is $116.02 and its two-hundred day moving average price is $117.96. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The stock has a market capitalization of $45.69 billion, a P/E ratio of -601.91 and a beta of 1.78. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.