Harvest Fund Management Co. Ltd Boosts Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Harvest Fund Management Co. Ltd increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 309.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,612 shares of the company’s stock after purchasing an additional 2,729 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cloudflare were worth $301,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Cloudflare in the fourth quarter valued at about $39,000. Massmutual Trust Co. FSB ADV boosted its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after acquiring an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Cloudflare by 98.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after acquiring an additional 296 shares during the last quarter. ORG Partners LLC acquired a new stake in Cloudflare during the fourth quarter worth approximately $55,000. Finally, Lindbrook Capital LLC boosted its position in Cloudflare by 49.5% during the fourth quarter. Lindbrook Capital LLC now owns 948 shares of the company’s stock worth $79,000 after acquiring an additional 314 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Down 3.1 %

Shares of NYSE:NET opened at $85.00 on Thursday. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The firm has a market cap of $28.70 billion, a P/E ratio of -159.42 and a beta of 1.12. The company has a 50 day moving average of $95.39 and a 200-day moving average of $82.50. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,036,341 shares of company stock worth $101,013,542. 14.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NET has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a report on Tuesday, February 13th. Capital One Financial assumed coverage on shares of Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Morgan Stanley raised their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.08.

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.