OV Management LLC Increases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

OV Management LLC boosted its stake in Cloudflare, Inc. (NYSE:NET) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,144 shares of the company’s stock after buying an additional 458 shares during the quarter. OV Management LLC’s holdings in Cloudflare were worth $877,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after purchasing an additional 68,661 shares during the last quarter. Norges Bank bought a new position in shares of Cloudflare during the 4th quarter worth approximately $249,544,000. American Century Companies Inc. boosted its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Cloudflare by 1.9% during 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 acquiring an additional 23,641 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after acquiring an additional 63,945 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Price Performance

NET stock opened at $112.77 on Tuesday. The firm has a 50 day moving average price of $137.39 and a 200-day moving average price of $112.03. The firm has a market capitalization of $38.91 billion, a price-to-earnings ratio of -512.57 and a beta of 1.27. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week 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.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Guggenheim boosted their target price 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. JMP Securities raised their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Susquehanna upped their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.64.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 618,046 shares of company stock worth $80,142,792 in the last three months. Insiders own 12.83% of the company’s stock.

Cloudflare Company 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.