Ballentine Partners LLC Has $220,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Ballentine Partners LLC boosted its position in Cloudflare, Inc. (NYSE:NET) by 10.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,656 shares of the company’s stock after purchasing an additional 249 shares during the period. Ballentine Partners LLC’s holdings in Cloudflare were worth $220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Cloudflare in the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare during the 2nd quarter valued at $29,000. ICA Group Wealth Management LLC bought a new position in Cloudflare during the fourth quarter worth $38,000. Finally, Versant Capital Management Inc increased its holdings in shares of Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $84.97, for a total value of $1,274,550.00. Following the completion of the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $26,335,346.89. The disclosure for this sale can be found here. Insiders sold a total of 597,702 shares of company stock valued at $48,088,422 in the last quarter. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 0.4 %

Shares of NET stock opened at $78.86 on Friday. The company has a market capitalization of $26.80 billion, a PE ratio of -148.79 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The business’s fifty day moving average is $79.97 and its 200 day moving average is $83.33. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho lifted their target price on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler lifted their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.29.

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.