Mediolanum International Funds Ltd Boosts Stock Position in Cloudflare, Inc. (NYSE:NET)

Mediolanum International Funds Ltd boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,247 shares of the company’s stock after acquiring an additional 1,713 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cloudflare were worth $1,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares in the last quarter. Wealth Management Partners LLC lifted its holdings in Cloudflare by 3.3% during the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock valued at $382,000 after purchasing an additional 114 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares in the last quarter. Quarry LP lifted its holdings in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Cloudflare by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after purchasing an additional 137 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and upped their price target for the stock from $77.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada upped their price target on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $136.00 in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.72.

Cloudflare Price Performance

NYSE NET opened at $138.62 on Monday. The company has a market cap of $47.57 billion, a price-to-earnings ratio of -533.15 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock’s fifty day moving average price is $114.40 and its 200 day moving average price is $94.74. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $142.41.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 616,257 shares of company stock valued at $67,256,408 in the last ninety days. Insiders own 12.83% of the company’s stock.

About Cloudflare

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.