AIA Group Ltd Buys 10,075 Shares of Cloudflare, Inc. (NYSE:NET)

AIA Group Ltd raised its stake in Cloudflare, Inc. (NYSE:NET) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,954 shares of the company’s stock after purchasing an additional 10,075 shares during the period. AIA Group Ltd’s holdings in Cloudflare were worth $4,625,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP increased its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Cloudflare during the third quarter valued at approximately $54,000. Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada lowered their target price 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. The Goldman Sachs Group dropped their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Oppenheimer began coverage on Cloudflare in a report on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $135.64.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the sale, the insider now owns 413,413 shares of the company’s stock, valued at approximately $48,509,881.42. This represents a 5.84 % decrease in their position. 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 company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 618,046 shares of company stock worth $80,142,792 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 3.1 %

NET stock opened at $114.89 on Monday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a fifty day moving average of $137.47 and a 200-day moving average of $111.56. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27. 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 posted its 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share 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.