Teachers Retirement System of The State of Kentucky Purchases Shares of 147,628 Cloudflare, Inc. (NYSE:NET)

Teachers Retirement System of The State of Kentucky acquired a new position in Cloudflare, Inc. (NYSE:NET – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 147,628 shares of the company’s stock, valued at approximately $8,166,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blair William & Co. IL lifted its holdings in Cloudflare by 27.4% during the third quarter. Blair William & Co. IL now owns 53,591 shares of the company’s stock valued at $2,964,000 after purchasing an additional 11,524 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cloudflare by 7.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,249 shares of the company’s stock valued at $4,517,000 after purchasing an additional 7,016 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of Cloudflare by 5.4% in the third quarter. Independent Advisor Alliance now owns 13,682 shares of the company’s stock valued at $757,000 after purchasing an additional 696 shares in the last quarter. Ellevest Inc. lifted its stake in Cloudflare by 461.3% in the third quarter. Ellevest Inc. now owns 2,032 shares of the company’s stock worth $112,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Cloudflare by 0.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,482,780 shares of the company’s stock worth $82,013,000 after acquiring an additional 10,202 shares during the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.

Cloudflare Stock Up 0.5 %

NYSE:NET opened at $55.53 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 4.74 and a current ratio of 4.74. The company has a market cap of $18.34 billion, a PE ratio of -92.55 and a beta of 1.03. Cloudflare, Inc. has a 52-week low of $37.37 and a 52-week high of $132.45. The stock has a 50-day simple moving average of $54.95 and a 200 day simple moving average of $52.93.

Cloudflare (NYSE:NET – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Cloudflare had a negative return on equity of 27.64% and a negative net margin of 19.83%. The business had revenue of $274.70 million during the quarter, compared to the consensus estimate of $274.29 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.32 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $45.38, for a total value of $2,377,185.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $45.38, for a total transaction of $2,377,185.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 20,000 shares of Cloudflare stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $43.70, for a total value of $874,000.00. Following the completion of the transaction, the chief financial officer now owns 86,433 shares in the company, valued at approximately $3,777,122.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 507,723 shares of company stock valued at $27,320,786. Insiders own 15.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NET shares. Morgan Stanley reduced their price target on shares of Cloudflare from $52.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 24th. Credit Suisse Group reiterated an “outperform” rating and set a $95.00 price objective on shares of Cloudflare in a report on Monday, February 13th. Truist Financial increased their target price on shares of Cloudflare from $57.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Citigroup increased their target price on shares of Cloudflare from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Finally, JPMorgan Chase & Co. raised shares of Cloudflare from an “underweight” rating to a “neutral” rating and set a $42.00 price objective for the company in a research report on Monday, November 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.96.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.