MBB Public Markets I LLC Has $1.85 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

MBB Public Markets I LLC lifted its position in Cloudflare, Inc. (NYSE:NET) by 711.2% during the second quarter, HoldingsChannel.com reports. The fund owned 22,356 shares of the company’s stock after purchasing an additional 19,600 shares during the period. MBB Public Markets I LLC’s holdings in Cloudflare were worth $1,852,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Riverview Trust Co bought a new stake in Cloudflare during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cloudflare during the 2nd quarter worth approximately $29,000. ICA Group Wealth Management LLC bought a new stake in Cloudflare during the 4th quarter worth approximately $38,000. Finally, Versant Capital Management Inc increased its stake in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total value of $1,175,400.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at $22,050,739.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total value of $1,175,400.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $22,050,739.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated 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 transaction, the chief operating officer now owns 211,394 shares in the company, valued at approximately $18,027,680.32. The disclosure for this sale can be found here. Insiders sold a total of 458,452 shares of company stock valued at $36,731,842 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 0.9 %

NET opened at $81.59 on Monday. 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 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market capitalization of $27.72 billion, a P/E ratio of -153.94 and a beta of 1.10. The stock has a fifty day moving average of $79.73 and a 200-day moving average of $81.82.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The company’s revenue was up 30.0% on a year-over-year basis. On average, equities analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

NET has been the subject of a number of research reports. Scotiabank initiated coverage on Cloudflare in a research note on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price for the company. The Goldman Sachs Group lowered their target price on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a research note on Tuesday, June 4th. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. 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, UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and raised their price target for the stock from $76.00 to $82.00 in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.29.

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.