Generali Investments Management Co LLC Grows Position in Cloudflare, Inc. $NET

Generali Investments Management Co LLC lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 277.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,263 shares of the company’s stock after purchasing an additional 3,870 shares during the quarter. Generali Investments Management Co LLC’s holdings in Cloudflare were worth $1,129,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Physician Wealth Advisors Inc. lifted its position in Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare during the 2nd quarter valued at $29,000. ORG Wealth Partners LLC lifted its holdings in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after acquiring an additional 70 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Cloudflare in the third quarter worth $31,000. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $201.23, for a total transaction of $10,541,232.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,080 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20. Following the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at $6,467,578.46. The trade was a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 610,780 shares of company stock worth $115,913,967. 10.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on Cloudflare in a report on Tuesday, January 20th. Royal Bank Of Canada raised their price objective on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Morgan Stanley set a $245.00 target price on Cloudflare in a research report on Wednesday, February 11th. Finally, Robert W. Baird set a $260.00 target price on Cloudflare and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.70.

Cloudflare Stock Performance

Shares of NET stock opened at $174.59 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The stock has a 50 day moving average price of $186.33 and a two-hundred day moving average price of $203.14. The company has a market capitalization of $61.16 billion, a P/E ratio of -602.01 and a beta of 1.97.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The firm had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue was up 33.6% on a year-over-year basis. Analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.