Cloudflare, Inc. (NYSE:NET) Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,706 shares of the company’s stock after acquiring an additional 1,052 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Cloudflare were worth $3,525,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in Cloudflare by 7.7% in the third quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after acquiring an additional 313 shares during the period. Quest Partners LLC purchased a new position in shares of Cloudflare during the 3rd quarter worth $54,000. Pathstone Holdings LLC increased its position in shares of Cloudflare by 5.2% during the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after purchasing an additional 1,200 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Cloudflare in the 3rd quarter valued at about $591,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

NET stock opened at $124.22 on Tuesday. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $137.01 and a 200 day moving average price of $110.56.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts anticipate 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 15,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 566,766 shares of company stock worth $73,779,200 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. Truist Financial lifted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Guggenheim lifted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Susquehanna lifted their price objective on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Morgan Stanley began coverage on Cloudflare in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $131.64.

Cloudflare 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.