Charles Schwab Investment Management Inc. Raises Position in Cloudflare, Inc. (NYSE:NET)

Charles Schwab Investment Management Inc. raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,221,760 shares of the company’s stock after buying an additional 63,945 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.36% of Cloudflare worth $131,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NET. Keystone Wealth Services LLC grew its stake in Cloudflare by 13.0% in the 4th quarter. Keystone Wealth Services LLC now owns 9,348 shares of the company’s stock worth $1,007,000 after buying an additional 1,075 shares in the last quarter. LGT Group Foundation increased its stake in Cloudflare by 47.7% in the fourth quarter. LGT Group Foundation now owns 61,745 shares of the company’s stock valued at $6,649,000 after acquiring an additional 19,952 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Cloudflare during the fourth quarter valued at about $1,154,000. Jones Financial Companies Lllp lifted its stake in Cloudflare by 164.7% during the fourth quarter. Jones Financial Companies Lllp now owns 5,024 shares of the company’s stock worth $541,000 after purchasing an additional 3,126 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Cloudflare by 65.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,243 shares of the company’s stock worth $136,000 after purchasing an additional 492 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 623,046 shares of company stock worth $79,594,844. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NET. Royal Bank of Canada raised their price objective on Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Truist Financial upped their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Piper Sandler upped their price target on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Mizuho lifted their price objective on Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus target price of $136.28.

Cloudflare Trading Down 3.4 %

NYSE NET opened at $126.57 on Friday. The stock’s 50 day moving average is $135.81 and its 200 day moving average is $107.33. 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 firm has a market capitalization of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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 earnings per share for the current fiscal year.

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.