Royal London Asset Management Ltd. Has $15.28 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Royal London Asset Management Ltd. boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,891 shares of the company’s stock after acquiring an additional 20,990 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cloudflare were worth $15,279,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC acquired a new stake in Cloudflare during the 3rd quarter worth about $54,000. Larson Financial Group LLC boosted its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc boosted its position in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its position in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NYSE NET opened at $118.95 on Friday. 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’s 50 day moving average is $136.73 and its two-hundred day moving average is $110.01. The company has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on NET shares. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Guggenheim lifted their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Susquehanna lifted their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. JMP Securities lifted their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Finally, Scotiabank lifted their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $131.64.

Insider Activity

In related news, CFO Thomas J. Seifert sold 33,864 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $30,192,558.60. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 566,766 shares of company stock worth $73,779,200. Company insiders own 12.83% of the company’s stock.

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.