Capula Management Ltd Makes New Investment in Cloudflare, Inc. $NET

Capula Management Ltd acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,272 shares of the company’s stock, valued at approximately $1,560,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Circle Wealth Management LLC acquired a new position in Cloudflare in the third quarter worth about $686,000. Clark Capital Management Group Inc. acquired a new stake in Cloudflare during the third quarter valued at approximately $346,000. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Cloudflare by 511.0% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 62,553 shares of the company’s stock valued at $13,420,000 after purchasing an additional 52,316 shares during the period. California Public Employees Retirement System grew its stake in shares of Cloudflare by 2.9% in the 3rd quarter. California Public Employees Retirement System now owns 520,870 shares of the company’s stock valued at $111,773,000 after purchasing an additional 14,827 shares during the period. Finally, Chilton Investment Co. Inc. acquired a new position in shares of Cloudflare in the 3rd quarter worth approximately $216,000. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 41,557 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the sale, the chief financial officer directly owned 85,452 shares in the company, valued at approximately $15,812,038.08. This trade represents a 32.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Graham-Cumming sold 2,520 shares of Cloudflare stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $173.35, for a total value of $436,842.00. Following the completion of the transaction, the director directly owned 495,191 shares of the company’s stock, valued at $85,841,359.85. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 526,210 shares of company stock valued at $97,324,213. 10.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group raised their target price on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Piper Sandler upped their price target on Cloudflare from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. UBS Group reiterated a “neutral” rating and set a $220.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. KeyCorp reissued an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. Finally, Needham & Company LLC reduced their target price on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Cloudflare Stock Up 0.2%

NYSE NET opened at $212.46 on Friday. The firm has a market cap of $74.42 billion, a PE ratio of -732.59 and a beta of 1.98. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The stock’s 50 day simple moving average is $185.42 and its 200 day simple moving average is $203.02. 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 released its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 33.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

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.