Chesapeake Capital Corp IL Acquires New Shares in Cloudflare, Inc. (NYSE:NET)

Chesapeake Capital Corp IL acquired a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,245 shares of the company’s stock, valued at approximately $349,000.

A number of other large investors have also made changes to their positions in NET. Stratos Wealth Partners LTD. increased its holdings in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after purchasing an additional 106 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Cloudflare by 0.5% during the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. This represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 504,382 shares of company stock valued at $66,194,115 in the last three months. 12.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NET. The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Morgan Stanley started coverage on shares of Cloudflare in a research note on Tuesday. They set an “overweight” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $130.04.

Cloudflare Stock Down 0.9 %

Cloudflare stock opened at $114.99 on Wednesday. The stock has a market cap of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company’s 50-day moving average price is $136.54 and its two-hundred day moving average price is $109.42.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. As a group, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.