Gordian Capital Singapore Pte Ltd Makes New $43,000 Investment in Cloudflare, Inc. (NYSE:NET)

by · The Cerbat Gem

Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 400 shares of the company’s stock, valued at approximately $43,000.

A number of other large investors have also added to or reduced their stakes in NET. Groupama Asset Managment bought a new stake in Cloudflare in the 4th quarter valued at about $269,200,000. Norges Bank bought a new stake in Cloudflare during the 4th quarter valued at $249,544,000. American Century Companies Inc. lifted its position in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock valued at $100,604,000 after purchasing an additional 836,591 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Cloudflare by 292.5% during the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock valued at $116,178,000 after purchasing an additional 804,059 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $59,279,290.07. This represents a 11.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. Insiders have sold 529,199 shares of company stock valued at $68,401,233 over the last quarter. 12.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NET shares. Needham & Company LLC raised their target price on Cloudflare from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Oppenheimer raised their price objective on shares of Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. 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 report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, UBS Group upped their price target on shares of Cloudflare from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average price target of $141.79.

View Our Latest Stock Report on NET

Cloudflare Trading Down 0.7%

NYSE NET opened at $156.37 on Thursday. The stock’s fifty day moving average price is $120.84 and its 200-day moving average price is $121.13. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $53.96 billion, a P/E ratio of -710.79 and a beta of 1.78. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET – Get Free Report) last announced its quarterly 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). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Cloudflare Profile

(Free Report)

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.

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