Harvest Investment Services LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Harvest Investment Services LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,595 shares of the company’s stock, valued at approximately $387,000.

Several other hedge funds have also added to or reduced their stakes in NET. Larson Financial Group LLC raised its holdings in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of 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 buying an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares during the period. Whittier Trust Co. boosted its stake in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after acquiring an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new stake in Cloudflare during the 4th quarter worth $65,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $109.03, for a total value of $2,795,529.20. Following the completion of the transaction, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $45,074,419.39. This trade represents a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,613 shares of company stock worth $67,732,853 over the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET opened at $106.91 on Wednesday. The stock has a market capitalization of $36.89 billion, a price-to-earnings ratio of -485.95 and a beta of 1.59. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The firm has a fifty day simple moving average of $125.32 and a 200 day simple moving average of $114.83. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted 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 return on equity of 5.52% and a negative net margin of 4.72%. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Mizuho upgraded Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reduced their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Susquehanna upped their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $134.84.

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.