Signaturefd LLC Increases Position in Cloudflare, Inc. (NYSE:NET)

Signaturefd LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,087 shares of the company’s stock after buying an additional 274 shares during the quarter. Signaturefd LLC’s holdings in Cloudflare were worth $816,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Cloudflare in the second quarter worth about $7,319,000. Price T Rowe Associates Inc. MD boosted its stake in Cloudflare by 20.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after purchasing an additional 149,866 shares during the period. Swiss National Bank grew its holdings in Cloudflare by 2.0% during the 1st quarter. Swiss National Bank now owns 886,900 shares of the company’s stock valued at $85,879,000 after buying an additional 17,700 shares in the last quarter. Comerica Bank raised its position in shares of Cloudflare by 19.9% during the first quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after buying an additional 4,733 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Cloudflare by 13.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock worth $15,935,000 after buying an additional 22,900 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. Wolfe Research assumed coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Susquehanna boosted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Guggenheim upped their price objective on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.72.

Cloudflare Stock Up 2.2 %

Shares of NET opened at $89.53 on Friday. 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. The firm has a fifty day moving average price of $83.08 and a 200 day moving average price of $80.85.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Research analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the sale, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total transaction of $4,921,476.80. Following the completion of the transaction, the chief executive officer now directly owns 10,761 shares of the company’s stock, valued at approximately $1,010,995.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at $6,546,941.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,552 shares of company stock worth $42,994,705. 12.83% of the stock is owned by insiders.

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.