Krane Funds Advisors LLC Takes $229,000 Position in Cloudflare, Inc. (NYSE:NET)

Krane Funds Advisors LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,127 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP increased its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Larson Financial Group LLC boosted its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc grew its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Cloudflare in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. UBS Group decreased their target price on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Guggenheim upped their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Finally, Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $135.64.

Cloudflare Price Performance

Shares of NYSE NET opened at $97.39 on Monday. The stock has a fifty day moving average of $136.35 and a 200-day moving average of $112.90. The stock has a market cap of $33.61 billion, a PE ratio of -442.68 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the sale, the insider now owns 188,406 shares in the company, valued at $21,257,848.98. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,662 shares of company stock worth $73,480,384 over the last ninety days. 12.83% of the stock is owned by corporate insiders.

Cloudflare 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.