Cloudflare, Inc. (NYSE:NET) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 440,868 shares of the company’s stock after purchasing an additional 11,259 shares during the quarter. ARK Investment Management LLC owned 0.13% of Cloudflare worth $36,707,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Kingswood Wealth Advisors LLC lifted its holdings in Cloudflare by 0.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after buying an additional 132 shares during the last quarter. CWM LLC lifted its holdings in shares of Cloudflare by 3.4% in the 3rd quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after purchasing an additional 153 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of Cloudflare by 2.9% in the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after purchasing an additional 166 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Cloudflare by 0.6% in the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares during the last quarter. Finally, Nwam LLC lifted its holdings in shares of Cloudflare by 4.7% in the 1st quarter. Nwam LLC now owns 5,021 shares of the company’s stock worth $310,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. KeyCorp raised their price target on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Truist Financial lifted their target price on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. Capital One Financial assumed coverage on Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. Finally, Mizuho lifted their target price on Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $87.50.

Insider Activity

In other news, General Counsel Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $81.43, for a total transaction of $244,290.00. Following the transaction, the general counsel now owns 154,629 shares in the company, valued at $12,591,439.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $81.43, for a total transaction of $244,290.00. Following the transaction, the general counsel now owns 154,629 shares in the company, valued at $12,591,439.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michelle Zatlyn sold 277,376 shares of Cloudflare stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the transaction, the chief operating officer now owns 38,545 shares in the company, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,069,816 shares of company stock worth $100,238,148. 14.80% of the stock is owned by corporate insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $96.55 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock’s fifty day simple moving average is $93.17 and its 200 day simple moving average is $78.14. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

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.