Kazazian Asset Management LLC Invests $269,000 in Cloudflare, Inc. (NYSE:NET)

Kazazian Asset Management LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,500 shares of the company’s stock, valued at approximately $269,000.

Other large investors have also modified their holdings of the company. Quarry LP raised its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC acquired a new stake in Cloudflare during the third quarter worth about $54,000. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 504,382 shares of company stock valued at $66,194,115. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 0.9 %

Shares of NYSE:NET opened at $114.99 on Wednesday. The stock has a market capitalization of $39.68 billion, a price-to-earnings ratio of -522.70 and a beta of 1.27. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a 50 day moving average price of $136.54 and a 200 day moving average price of $109.42.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Cloudflare in a research note on Tuesday. They set an “overweight” rating on the stock. Cantor Fitzgerald raised their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $130.04.

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.