8,909 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Sphera Management Technology Funds Ltd

Sphera Management Technology Funds Ltd bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,909 shares of the company’s stock, valued at approximately $959,000.

Several other hedge funds also recently modified their holdings of the business. CreativeOne Wealth LLC boosted its stake in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after acquiring an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Baxter Bros Inc. grew its holdings in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after buying an additional 100 shares during the period. Finally, Ellevest Inc. increased its position in shares of Cloudflare by 2.3% in the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after buying an additional 102 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $157.06 on Monday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $54.20 billion, a price-to-earnings ratio of -713.89 and a beta of 1.78. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a 50-day simple moving average of $118.38 and a two-hundred day simple moving average of $120.14.

Cloudflare (NYSE:NET) last released 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 business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the sale, the chief executive officer now directly owns 10,426 shares in the company, valued at $1,591,841.68. This represents a 83.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now owns 188,406 shares of the company’s stock, valued at $21,257,848.98. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 597,260 shares of company stock valued at $79,553,032. 12.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NET. 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. Bank of America raised Cloudflare from an “underperform” rating to a “buy” rating and increased their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Morgan Stanley lifted their price target on shares of Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $141.79.

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.