Whittier Trust Co. Grows Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Whittier Trust Co. grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 14.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,167 shares of the company’s stock after buying an additional 266 shares during the quarter. Whittier Trust Co.’s holdings in Cloudflare were worth $179,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NET. Yousif Capital Management LLC grew its stake in Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares during the period. Soltis Investment Advisors LLC grew its position in shares of Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares during the period. GAMMA Investing LLC increased its stake in shares of Cloudflare by 34.4% in the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after acquiring an additional 171 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in Cloudflare by 0.8% during the 4th quarter. Eagle Bay Advisors LLC now owns 21,005 shares of the company’s stock valued at $1,749,000 after acquiring an additional 177 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in Cloudflare by 5.6% during the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock worth $322,000 after acquiring an additional 178 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.65, for a total value of $247,950.00. Following the sale, the insider now directly owns 195,303 shares of the company’s stock, valued at approximately $16,141,792.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.65, for a total value of $247,950.00. Following the sale, the insider now owns 195,303 shares in the company, valued at $16,141,792.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Katrin Suder sold 574 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $67.11, for a total transaction of $38,521.14. Following the sale, the director now directly owns 51,162 shares of the company’s stock, valued at $3,433,481.82. The disclosure for this sale can be found here. Insiders have sold 577,622 shares of company stock worth $45,953,444 over the last quarter. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Mizuho raised their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Finally, Cantor Fitzgerald raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.29.

Cloudflare Trading Up 1.8 %

Shares of NET opened at $81.30 on Friday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The company’s fifty day moving average is $80.53 and its 200 day moving average is $84.79. The stock has a market capitalization of $27.63 billion, a PE ratio of -153.40 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative return on equity of 8.90% and a negative net margin of 6.90%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. Sell-side analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

About Cloudflare

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.