Rakuten Securities Inc. Invests $582,000 in Cloudflare, Inc. (NYSE:NET)

Rakuten Securities Inc. purchased a new position in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,992 shares of the company’s stock, valued at approximately $582,000.

Other large investors have also recently modified their holdings of the company. Carnegie Capital Asset Management LLC increased its holdings in Cloudflare by 11.7% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 152,760 shares of the company’s stock worth $12,719,000 after buying an additional 16,040 shares in the last quarter. Simplicity Solutions LLC bought a new stake in Cloudflare in the 4th quarter worth about $257,000. ORG Partners LLC bought a new stake in Cloudflare in the 4th quarter worth about $55,000. NewEdge Wealth LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at about $232,000. Finally, Perigon Wealth Management LLC grew its stake in shares of Cloudflare by 72.7% during the 4th quarter. Perigon Wealth Management LLC now owns 16,299 shares of the company’s stock valued at $1,357,000 after purchasing an additional 6,861 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Truist Financial boosted their price objective on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Needham & Company LLC boosted their price objective on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Mizuho cut their price objective on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday. Finally, DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.08.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 243,495 shares in the company, valued at $18,926,866.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 243,495 shares of the company’s stock, valued at $18,926,866.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,070,903 shares of company stock worth $103,653,456. 14.80% of the stock is owned by insiders.

Cloudflare Stock Up 0.8 %

Shares of NET traded up $0.70 during midday trading on Wednesday, reaching $91.04. 3,169,264 shares of the stock were exchanged, compared to its average volume of 2,217,742. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The company’s 50 day moving average is $96.84 and its two-hundred day moving average is $81.55. The company has a market capitalization of $30.74 billion, a P/E ratio of -165.52 and a beta of 1.12.

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

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.