Cloudflare, Inc. $NET is Penserra Capital Management LLC’s 4th Largest Position

by · The Markets Daily

Penserra Capital Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET – Free Report) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674,821 shares of the company’s stock after selling 73,286 shares during the quarter. Cloudflare makes up 1.7% of Penserra Capital Management LLC’s portfolio, making the stock its 4th largest holding. Penserra Capital Management LLC’s holdings in Cloudflare were worth $144,808,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NET. Physician Wealth Advisors Inc. lifted its position in Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after buying an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Cloudflare during the 2nd quarter valued at about $29,000. ORG Wealth Partners LLC grew its stake in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares during the period. Finally, Cloud Capital Management LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at approximately $31,000. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $211.16, for a total transaction of $3,167,400.00. Following the sale, the director directly owned 953,073 shares of the company’s stock, valued at $201,250,894.68. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $176.19, for a total value of $528,570.00. Following the transaction, the insider owned 101,101 shares of the company’s stock, valued at $17,812,985.19. This represents a 2.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 630,827 shares of company stock valued at $124,436,992. 10.89% of the stock is owned by insiders.

Cloudflare Stock Down 6.7%

Shares of NET stock opened at $170.16 on Wednesday. The company’s fifty day simple moving average is $193.75 and its two-hundred day simple moving average is $205.81. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The stock has a market cap of $59.60 billion, a P/E ratio of -567.21, a PEG ratio of 158.12 and a beta of 1.97. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Analysts Set New Price Targets

Several brokerages have weighed in on NET. Scotiabank lifted their price target on shares of Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on shares of Cloudflare from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Cantor Fitzgerald raised their price target on Cloudflare from $199.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Read Our Latest Stock Analysis on Cloudflare

About Cloudflare

(Free Report)

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

See Also

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