Ensign Peak Advisors Inc Buys 17,241 Shares of Cloudflare, Inc. (NYSE:NET)

Ensign Peak Advisors Inc grew its stake in Cloudflare, Inc. (NYSE:NET) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,399 shares of the company’s stock after acquiring an additional 17,241 shares during the period. Ensign Peak Advisors Inc owned 0.08% of Cloudflare worth $30,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Larson Financial Group LLC lifted its holdings 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 buying an additional 517 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock worth $60,000 after acquiring an additional 380 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the period. Whittier Trust Co. boosted its holdings in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after acquiring an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new stake in Cloudflare in the fourth quarter worth about $65,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 6.5 %

Shares of NET stock opened at $132.42 on Friday. The firm’s fifty day moving average price is $116.02 and its two-hundred day moving average price is $117.76. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm has a market capitalization of $45.69 billion, a P/E ratio of -601.91 and a beta of 1.78.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period in the prior year, the firm posted $0.16 EPS. Cloudflare’s revenue was up 26.5% compared to the same quarter last year. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Susquehanna raised their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Scotiabank lifted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Bank of America raised Cloudflare from an “underperform” rating to a “buy” rating and increased their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald upped their price objective on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $142.57.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the transaction, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $59,279,290.07. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,492 shares of company stock valued at $63,757,685. 12.83% of the stock is owned by insiders.

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.