Cloudflare, Inc. (NYSE:NET) Stock Holdings Increased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,796 shares of the company’s stock after acquiring an additional 787 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cloudflare were worth $732,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after acquiring an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Cloudflare during the 3rd quarter valued at $569,000. International Assets Investment Management LLC bought a new stake in Cloudflare during the 4th quarter valued at $11,639,000. Blueshift Asset Management LLC raised its stake in Cloudflare by 100.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after acquiring an additional 12,974 shares in the last quarter. Finally, LA Financiere DE L Echiquier raised its stake in Cloudflare by 4.5% during the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after acquiring an additional 17,600 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at approximately $1,152,389.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 277,376 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at approximately $3,899,597.65. The transaction was disclosed in a legal filing 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 that occurred on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56. Following the sale, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,046,356 shares of company stock valued at $101,906,480. Corporate insiders own 14.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several research reports. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Tuesday, February 13th. Susquehanna raised their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. KeyCorp raised their target price on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Cloudflare in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. raised their target price on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.08.

Cloudflare Price Performance

NET opened at $87.98 on Friday. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The business has a 50-day moving average of $95.10 and a 200-day moving average of $82.53. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

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