Cloudflare, Inc. (NYSE:NET) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,251,670 shares of the company’s stock after purchasing an additional 35,884 shares during the period. Bank of New York Mellon Corp’s holdings in Cloudflare were worth $103,676,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NET. International Assets Investment Management LLC acquired a new position in Cloudflare during the fourth quarter worth about $11,639,000. Federated Hermes Inc. purchased a new stake in shares of Cloudflare during the 4th quarter worth about $953,000. CWM LLC raised its stake in shares of Cloudflare by 5.6% during the 4th quarter. CWM LLC now owns 4,884 shares of the company’s stock worth $407,000 after purchasing an additional 260 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth about $39,000. Finally, Yousif Capital Management LLC raised its stake in shares of Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Cloudflare in a research note on Tuesday, May 14th. JPMorgan Chase & Co. dropped their price target on Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TD Cowen dropped their price target on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, May 7th. Finally, UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and upped their target price for the company from $76.00 to $82.00 in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $92.29.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares in the company, valued at approximately $6,546,941.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.04, for a total value of $3,773,743.36. Following the completion of the transaction, the chief executive officer now directly owns 8,742 shares in the company, valued at $629,773.68. The disclosure for this sale can be found here. Insiders sold 577,622 shares of company stock valued at $45,953,444 in the last three months. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 0.5 %

NET stock opened at $81.26 on Wednesday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average price of $80.46 and a two-hundred day moving average price of $84.85. The company has a market cap of $27.61 billion, a price-to-earnings ratio of -153.32 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.90% and a negative net margin of 6.90%. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period last year, the company earned ($0.12) earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Cloudflare 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.