Robocap Asset Management Ltd Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

Robocap Asset Management Ltd bought a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 64,082 shares of the company’s stock, valued at approximately $6,900,000. Cloudflare accounts for approximately 4.6% of Robocap Asset Management Ltd’s holdings, making the stock its 11th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in NET. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the third quarter worth about $38,000. Quarry LP raised its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Quest Partners LLC bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Finally, Versant Capital Management Inc boosted its holdings in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 17.9 %

NET stock opened at $166.88 on Friday. 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 business has a 50-day simple moving average of $117.55 and a two-hundred day simple moving average of $96.24. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $171.38.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts forecast that Cloudflare, Inc. will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent research reports. Guggenheim lifted their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday. Mizuho increased their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Scotiabank upped their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $128.48.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,738 shares of company stock valued at $69,632,506 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

About Cloudflare

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.