Keystone Investors PTE Ltd. Takes $265,000 Position in Cloudflare, Inc. (NYSE:NET)

Keystone Investors PTE Ltd. acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,465 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Cloudflare by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after purchasing an additional 313 shares in the last quarter. Quest Partners LLC bought a new stake in Cloudflare during the third quarter worth $54,000. Pathstone Holdings LLC increased its stake in shares of Cloudflare by 5.2% in the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock valued at $1,950,000 after purchasing an additional 1,200 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cloudflare during the 3rd quarter worth $591,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 4.2 %

Shares of NYSE:NET opened at $124.22 on Tuesday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $42.86 billion, a PE ratio of -564.61 and a beta of 1.27. The business has a 50 day moving average of $137.01 and a two-hundred day moving average of $110.56.

Cloudflare (NYSE:NET) last released 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%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of several research reports. Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus raised their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. UBS Group decreased their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average price target of $131.64.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,226,652.76. This trade represents a 82.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock valued at $73,779,200 in the last quarter. Insiders own 12.83% of the company’s stock.

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.