OVERSEA CHINESE BANKING Corp Ltd Makes New $403,000 Investment in Cloudflare, Inc. (NYSE:NET)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Cloudflare, Inc. (NYSE:NET) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,938 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds have also made changes to their positions in NET. Apollon Wealth Management LLC increased its holdings in Cloudflare by 9.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after purchasing an additional 269 shares in the last quarter. Lountzis Asset Management LLC boosted its position in shares of Cloudflare by 4.0% in the third quarter. Lountzis Asset Management LLC now owns 29,663 shares of the company’s stock worth $2,399,000 after buying an additional 1,140 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Cloudflare by 70.5% in the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after buying an additional 116,130 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cloudflare by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 110,832 shares of the company’s stock valued at $8,965,000 after buying an additional 786 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Cloudflare during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho lifted their target price on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Guggenheim increased their price target on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.88.

Cloudflare Trading Up 3.6 %

Shares of NYSE NET opened at $94.16 on Thursday. The company has a market cap of $32.17 billion, a price-to-earnings ratio of -362.15 and a beta of 1.10. The stock’s 50 day simple moving average is $85.57 and its 200 day simple moving average is $80.80. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.04 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities research analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total transaction of $4,921,476.80. Following the sale, the chief executive officer now owns 10,761 shares of the company’s stock, valued at approximately $1,010,995.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at $1,010,995.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,043 shares of company stock worth $39,737,342. 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.