Callan Capital LLC Invests $208,000 in Cloudflare, Inc. (NYSE:NET)

Callan Capital LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,494 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG grew its stake in Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Cloudflare in the 3rd quarter valued at approximately $569,000. International Assets Investment Management LLC purchased a new position in Cloudflare in the 4th quarter valued at approximately $11,639,000. Blueshift Asset Management LLC grew its stake in Cloudflare by 100.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after buying an additional 12,974 shares in the last quarter. Finally, LA Financiere DE L Echiquier boosted its holdings in Cloudflare by 4.5% in the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after purchasing an additional 17,600 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on NET. Sanford C. Bernstein began coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target for the company. Truist Financial lifted their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research report on Tuesday, February 13th. Finally, Capital One Financial initiated coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.08.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 277,376 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at $3,899,597.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michelle Zatlyn sold 277,376 shares of the company’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 transaction of $28,062,129.92. Following the completion of the transaction, the chief operating officer now owns 38,545 shares in the company, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Insiders have sold 1,046,356 shares of company stock valued at $101,906,480 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Trading Up 1.4 %

Shares of NYSE NET traded up $1.25 during midday trading on Friday, hitting $88.01. 1,763,933 shares of the company traded hands, compared to its average volume of 2,346,044. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a 50-day moving average price of $94.89 and a 200 day moving average price of $82.70. The firm has a market cap of $29.72 billion, a P/E ratio of -159.96 and a beta of 1.12.

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