Russell Investments Group Ltd. Acquires 1,368 Shares of Cloudflare, Inc. (NYSE:NET)

Russell Investments Group Ltd. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,678 shares of the company’s stock after buying an additional 1,368 shares during the period. Russell Investments Group Ltd.’s holdings in Cloudflare were worth $6,355,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Yousif Capital Management LLC grew its holdings in Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares during the last quarter. Quent Capital LLC lifted its stake in Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after buying an additional 140 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Cloudflare by 1.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock worth $1,244,000 after buying an additional 239 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of Cloudflare by 1.2% in the 3rd quarter. Profund Advisors LLC now owns 21,982 shares of the company’s stock valued at $1,386,000 after acquiring an additional 251 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NYSE NET opened at $72.45 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a 50 day moving average price of $92.19 and a 200 day moving average price of $83.85. The stock has a market capitalization of $24.46 billion, a PE ratio of -136.70 and a beta of 1.15. Cloudflare, Inc. has a 52 week low of $45.47 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 6,000 shares of Cloudflare stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at $23,789,829.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Douglas James Kramer sold 6,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the sale, the insider now owns 216,114 shares in the company, valued at approximately $23,789,829.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maria S. Eitel sold 6,875 shares of Cloudflare stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $98.51, for a total transaction of $677,256.25. Following the sale, the director now directly owns 23,513 shares of the company’s stock, valued at approximately $2,316,265.63. The disclosure for this sale can be found here. Insiders have sold 1,141,153 shares of company stock worth $108,765,387 in the last ninety days. Insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. Robert W. Baird lowered their price objective on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price objective on Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley boosted their target price on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company dropped their price target on Cloudflare from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $89.48.

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.