Oak Ridge Investments LLC Invests $4.91 Million in Cloudflare, Inc. (NYSE:NET)

Oak Ridge Investments LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 45,627 shares of the company’s stock, valued at approximately $4,913,000.

A number of other institutional investors have also recently bought and sold shares of the stock. CVA Family Office LLC boosted its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the period. Quarry LP boosted its stake in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new position in Cloudflare during the 3rd quarter worth approximately $38,000. Quest Partners LLC acquired a new stake in Cloudflare during the 3rd quarter valued at $54,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $117.13 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a 50 day moving average price of $107.72 and a 200 day moving average price of $91.49. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $121.02.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NET shares. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and upped their target price for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Jefferies Financial Group increased their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. BNP Paribas assumed coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Finally, Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average price target of $107.00.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 524,852 shares of company stock valued at $55,386,256. Insiders own 12.83% of the company’s stock.

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.