Cloudflare, Inc. (NYSE:NET) Holdings Lifted by Aigen Investment Management LP

Aigen Investment Management LP increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 40.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,260 shares of the company’s stock after buying an additional 1,798 shares during the quarter. Aigen Investment Management LP’s holdings in Cloudflare were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after purchasing an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cloudflare by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after purchasing an additional 63,945 shares in the last quarter. Swiss National Bank grew its stake in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after purchasing an additional 2,483 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $59,961,421.52. This represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,489,020.12. This represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 623,046 shares of company stock valued at $79,594,844 in the last quarter. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NET shares. Morgan Stanley boosted their target price on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. The Goldman Sachs Group upped their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $136.28.

Cloudflare Trading Down 9.0 %

Cloudflare stock opened at $130.85 on Friday. The business has a 50 day moving average price of $135.12 and a two-hundred day moving average price of $106.87. 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 cap of $45.15 billion, a price-to-earnings ratio of -594.79 and a beta of 1.27. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current 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.