Generate Investment Management Ltd Invests $12.95 Million in Cloudflare, Inc. (NYSE:NET)

Generate Investment Management Ltd acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 120,229 shares of the company’s stock, valued at approximately $12,946,000.

A number of other hedge funds have also bought and sold shares of the company. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare during the 3rd quarter worth about $25,588,000. International Assets Investment Management LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at about $147,160,000. Parnassus Investments LLC grew its stake in Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after purchasing an additional 131,319 shares during the period. Geode Capital Management LLC increased its holdings in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Cloudflare by 70.5% in the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after buying an additional 116,130 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The sale 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 the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Cantor Fitzgerald began coverage on Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $112.32.

Cloudflare Price Performance

Shares of NYSE NET opened at $141.25 on Friday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $48.47 billion, a PE ratio of -543.25 and a beta of 1.12. The stock’s 50 day moving average price is $116.71 and its 200-day moving average price is $95.92. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $144.30.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

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.