Cloudflare, Inc. (NYSE:NET) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Cloudflare, Inc. (NYSE:NET) by 5,451.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,370 shares of the company’s stock after acquiring an additional 184,977 shares during the period. Los Angeles Capital Management LLC’s holdings in Cloudflare were worth $15,684,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in NET. Commonwealth Equity Services LLC grew its stake in Cloudflare by 9.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock worth $3,588,000 after buying an additional 4,685 shares during the last quarter. Xponance Inc. increased its holdings in shares of Cloudflare by 0.6% in the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after acquiring an additional 224 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Cloudflare by 27.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock valued at $990,000 after purchasing an additional 3,337 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $372,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Cloudflare during the third quarter valued at approximately $255,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 16.4 %

NET stock traded down $14.57 during mid-day trading on Friday, hitting $74.40. The stock had a trading volume of 18,650,549 shares, compared to its average volume of 2,884,762. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The company has a fifty day moving average of $93.67 and a 200 day moving average of $83.47. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of -140.60 and a beta of 1.15.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. On average, equities analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the transaction, the director now directly owns 1,446,957 shares of the company’s stock, valued at $117,811,238.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Carl Ledbetter sold 7,962 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the sale, the director now owns 1,446,957 shares in the company, valued at approximately $117,811,238.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.64, for a total transaction of $298,920.00. Following the completion of the transaction, the insider now owns 205,238 shares in the company, valued at $20,449,914.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,029,347 shares of company stock worth $100,594,226. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the topic of several analyst reports. Bank of America raised their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research report on Friday. KeyCorp reduced their price objective on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a report on Friday. Capital One Financial started coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target for the company. Finally, Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $90.17.

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.