WINTON GROUP Ltd Buys Shares of 13,972 Cloudflare, Inc. $NET

WINTON GROUP Ltd purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,972 shares of the company’s stock, valued at approximately $2,998,000.

Several other hedge funds and other institutional investors have also modified their holdings of NET. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Cloudflare by 1.6% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,642 shares of the company’s stock valued at $996,000 after buying an additional 71 shares during the period. Private Advisor Group LLC boosted its holdings in Cloudflare by 2.3% during the 3rd quarter. Private Advisor Group LLC now owns 6,016 shares of the company’s stock valued at $1,291,000 after acquiring an additional 136 shares during the period. PFG Advisors acquired a new position in Cloudflare in the 3rd quarter valued at about $377,000. Dynamic Technology Lab Private Ltd acquired a new position in Cloudflare in the 3rd quarter valued at about $734,000. Finally, CreativeOne Wealth LLC increased its stake in Cloudflare by 15.5% during the third quarter. CreativeOne Wealth LLC now owns 8,781 shares of the company’s stock worth $1,884,000 after purchasing an additional 1,180 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Up 3.1%

Shares of NYSE NET opened at $207.69 on Wednesday. The business has a 50-day moving average of $184.48 and a two-hundred day moving average of $202.74. The company has a market capitalization of $72.75 billion, a price-to-earnings ratio of -716.14 and a beta of 1.98. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 41,557 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $185.04, for a total value of $7,689,707.28. Following the transaction, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at $15,812,038.08. This trade represents a 32.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $189.47, for a total transaction of $9,925,196.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 551,851 shares of company stock worth $102,673,182 over the last three months. Insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of several research reports. TD Cowen reissued a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $224.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Susquehanna set a $190.00 target price on shares of Cloudflare in a report on Thursday, February 12th. New Street Research set a $140.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, Zacks Research lowered Cloudflare from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.70.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.