California Public Employees Retirement System Has $43.69 Million Holdings in Cloudflare, Inc. (NYSE:NET)

California Public Employees Retirement System raised its holdings in Cloudflare, Inc. (NYSE:NET) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 524,747 shares of the company’s stock after acquiring an additional 891 shares during the period. California Public Employees Retirement System owned about 0.16% of Cloudflare worth $43,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at about $869,000. Duality Advisers LP bought a new stake in shares of Cloudflare during the 4th quarter worth approximately $820,000. EFG Asset Management Americas Corp. grew its stake in shares of Cloudflare by 1.7% in the fourth quarter. EFG Asset Management Americas Corp. now owns 27,274 shares of the company’s stock valued at $2,271,000 after buying an additional 446 shares in the last quarter. Sigma Planning Corp raised its position in shares of Cloudflare by 3.3% in the fourth quarter. Sigma Planning Corp now owns 8,700 shares of the company’s stock valued at $724,000 after purchasing an additional 281 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Cloudflare by 30.2% during the 4th quarter. Handelsbanken Fonder AB now owns 122,940 shares of the company’s stock worth $10,236,000 after purchasing an additional 28,548 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. Susquehanna boosted their target price on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Cloudflare in a report on Wednesday, April 17th. JMP Securities lifted their price target on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. KeyCorp lifted their price target on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Truist Financial boosted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Four investment 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $87.08.

Cloudflare Stock Up 1.4 %

Shares of NYSE:NET opened at $87.98 on Friday. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The firm has a fifty day moving average of $95.10 and a 200 day moving average of $82.53. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

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

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $30,002,489.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $30,002,489.55. 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 business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the completion of the sale, the chief executive officer now directly owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The disclosure for this sale can be found here. Insiders sold 1,046,356 shares of company stock valued at $101,906,480 over the last three months. Insiders own 14.80% 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.