Daiwa Securities Group Inc. Buys 1,000 Shares of Cloudflare, Inc. (NYSE:NET)

Daiwa Securities Group Inc. boosted its stake in Cloudflare, Inc. (NYSE:NET) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,452 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Cloudflare were worth $1,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its stake in Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cloudflare by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Capital World Investors lifted its stake in Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Cloudflare by 121.2% in the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after purchasing an additional 1,597,900 shares during the last quarter. Finally, Norges Bank bought a new position in Cloudflare in the 4th quarter valued at approximately $221,858,000. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NET shares. Piper Sandler raised their price target on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $82.00 in a research note on Tuesday, June 25th. Susquehanna raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. 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 note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.29.

Cloudflare Stock Down 0.3 %

Shares of NYSE NET opened at $78.59 on Friday. The stock has a market capitalization of $26.70 billion, a P/E ratio of -148.28 and a beta of 1.10. The company has a 50-day moving average price of $79.69 and a 200-day moving average price of $83.16. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

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

Insider Activity at Cloudflare

In related news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $82.96, for a total transaction of $4,345,776.64. Following the transaction, the chief executive officer now directly owns 8,742 shares in the company, valued at $725,236.32. The disclosure for this sale can be found here. Insiders have sold 597,702 shares of company stock valued at $48,088,422 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

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.