Grandview Asset Management LLC Increases Stake in Cloudflare, Inc. (NYSE:NET)

Grandview Asset Management LLC grew its position in Cloudflare, Inc. (NYSE:NET) by 16.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,972 shares of the company’s stock after purchasing an additional 1,698 shares during the quarter. Grandview Asset Management LLC’s holdings in Cloudflare were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after acquiring an additional 119 shares during the period. Quarry LP lifted its position 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 during the period. Elo Mutual Pension Insurance Co boosted its holdings in Cloudflare by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock worth $2,253,000 after purchasing an additional 136 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Cloudflare by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after purchasing an additional 137 shares during the period. Finally, Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NET shares. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Finally, Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.30.

Cloudflare Stock Down 1.8 %

Shares of Cloudflare stock opened at $110.59 on Tuesday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42. 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 has a market cap of $37.95 billion, a price-to-earnings ratio of -425.35 and a beta of 1.10. The firm’s 50-day moving average is $105.41 and its two-hundred day moving average is $90.48.

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

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $90.92, for a total value of $4,762,753.28. Following the completion of the sale, the chief executive officer now owns 10,761 shares of the company’s stock, valued at $978,390.12. This trade represents a 82.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 592,236 shares of company stock worth $61,512,210 in the last three months. 12.83% of the stock is owned by insiders.

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.