Cloudflare, Inc. (NYSE:NET) Shares Acquired by Versant Capital Management Inc

Versant Capital Management Inc raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 44.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 549 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Versant Capital Management Inc’s holdings in Cloudflare were worth $59,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare during the third quarter valued at $25,588,000. American Century Companies Inc. raised its holdings in shares of Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares during the period. International Assets Investment Management LLC bought a new position in shares of Cloudflare in the 3rd quarter worth about $147,160,000. Finally, Parnassus Investments LLC boosted its holdings in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares during the period. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NET. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $136.00 in a report on Tuesday, December 17th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and upped their price objective for the stock from $77.00 to $140.00 in a research note on Thursday. Mizuho raised their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Piper Sandler upped their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.37.

Insider Activity at Cloudflare

In other news, COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $18,212,582.70. The trade was a 16.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,204,267.80. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 550,492 shares of company stock worth $54,916,040 in the last quarter. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

Shares of NET opened at $114.73 on Monday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $119.42. The stock has a market capitalization of $39.37 billion, a P/E ratio of -441.27 and a beta of 1.10. The firm’s 50 day moving average is $102.82 and its 200-day moving average is $89.16. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current fiscal 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.