Blair William & Co. IL Has $2.72 Million Stake in Cloudflare, Inc. (NYSE:NET)

Blair William & Co. IL boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,865 shares of the company’s stock after purchasing an additional 752 shares during the quarter. Blair William & Co. IL’s holdings in Cloudflare were worth $2,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Forum Financial Management LP grew its holdings in shares of Cloudflare by 6.1% during the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after buying an additional 162 shares during the last quarter. Soltis Investment Advisors LLC lifted its position in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after acquiring an additional 168 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cloudflare by 34.4% during the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after purchasing an additional 171 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Cloudflare by 5.6% during the 1st quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock worth $322,000 after purchasing an additional 178 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Cloudflare by 2.7% in the first quarter. Joel Isaacson & Co. LLC now owns 6,949 shares of the company’s stock worth $673,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

NYSE NET opened at $82.45 on Monday. The company’s 50 day simple moving average is $79.46 and its two-hundred day simple moving average is $82.32. The stock has a market capitalization of $28.02 billion, a PE ratio of -155.57 and a beta of 1.10. 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, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

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, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. Analysts predict that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares in the company, valued at approximately $18,027,680.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at approximately $26,335,346.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $85.28, for a total value of $2,186,579.20. Following the completion of the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at approximately $18,027,680.32. The disclosure for this sale can be found here. Insiders have sold a total of 572,062 shares of company stock valued at $46,086,211 over the last 90 days. 12.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective on the stock. UBS Group upgraded shares of Cloudflare from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Robert W. Baird increased their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada increased their price target on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Three 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 stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus 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.