KPP Advisory Services LLC Purchases Shares of 1,901 Cloudflare, Inc. (NYSE:NET)

KPP Advisory Services LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,901 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NET. Geode Capital Management LLC grew its position in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. Swiss National Bank boosted its holdings in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares during the last quarter. National Pension Service increased its position in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in Cloudflare by 16.8% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock worth $42,602,000 after purchasing an additional 56,906 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NET shares. Royal Bank of Canada upped their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Piper Sandler lifted their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $112.32.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the transaction, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $17,115,283.62. This represents a 21.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $21,403,676.25. This trade represents a 12.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,257 shares of company stock worth $67,256,408. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $136.88 on Tuesday. 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 firm has a 50-day moving average of $115.06 and a 200-day moving average of $95.15. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $142.41. The company has a market cap of $46.98 billion, a P/E ratio of -526.47 and a beta of 1.10.

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

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.