Cloudflare, Inc. (NYSE:NET) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 285.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,296 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cloudflare were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC boosted its stake in shares of Cloudflare by 14.3% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 21,465 shares of the company’s stock worth $1,757,000 after purchasing an additional 2,684 shares during the last quarter. LVW Advisors LLC purchased a new stake in shares of Cloudflare in the third quarter valued at $472,000. Private Advisory Group LLC lifted its position in Cloudflare by 3.7% during the third quarter. Private Advisory Group LLC now owns 33,881 shares of the company’s stock worth $2,741,000 after buying an additional 1,201 shares during the period. Tobam purchased a new position in shares of Cloudflare during the 3rd quarter worth about $75,000. Finally, Wedmont Private Capital boosted its holdings in shares of Cloudflare by 41.7% in the 3rd quarter. Wedmont Private Capital now owns 3,797 shares of the company’s stock valued at $306,000 after purchasing an additional 1,118 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the sale, the chief financial officer now owns 309,937 shares of the company’s stock, valued at approximately $24,450,929.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the completion of the sale, the insider now directly owns 195,303 shares of the company’s stock, valued at $15,071,532.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the sale, the chief financial officer now directly owns 309,937 shares in the company, valued at approximately $24,450,929.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,784 shares of company stock valued at $33,130,625. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NET. Wolfe Research assumed coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Royal Bank of Canada lifted their price target on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Mizuho increased 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. Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.20.

Cloudflare Price Performance

NET stock opened at $93.78 on Tuesday. The firm’s fifty day moving average is $80.88 and its 200 day moving average is $80.95. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The firm has a market cap of $31.87 billion, a P/E ratio of -176.89 and a beta of 1.10. 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 posted its quarterly earnings data 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 business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue was up 30.0% on a year-over-year basis. Research analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

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.