30,581 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Interval Partners LP

Interval Partners LP bought a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,581 shares of the company’s stock, valued at approximately $3,293,000.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors increased its position in Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the period. Geode Capital Management LLC increased its position in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after purchasing an additional 68,661 shares during the period. Groupama Asset Managment purchased a new position in Cloudflare during the 4th quarter valued at $269,200,000. Norges Bank purchased a new position in Cloudflare during the 4th quarter valued at $249,544,000. Finally, American Century Companies Inc. boosted its holdings in shares of Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after buying an additional 1,017,399 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

Shares of NET stock opened at $132.42 on Monday. The stock’s 50-day simple moving average is $116.02 and its 200-day simple moving average is $117.96. The firm has a market capitalization of $45.69 billion, a price-to-earnings ratio of -601.91 and a beta of 1.78. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Insider Activity at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 492,492 shares of company stock worth $63,757,685 over the last quarter. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Needham & Company LLC upped their target price on shares of Cloudflare from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and upped their target price for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $142.57.

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.