2,768 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,768 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors have also recently added to or reduced their stakes in NET. CVA Family Office LLC boosted its holdings in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the second quarter worth about $29,000. Quarry LP raised its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NET. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Mizuho lifted their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Susquehanna lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Royal Bank of Canada lifted their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four equities 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. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Stock Performance

Shares of NET stock opened at $87.57 on Friday. Cloudflare, Inc. has a one year low of $55.40 and a one year 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 50 day moving average price of $83.72 and a 200 day moving average price of $80.62. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of -301.97 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. Cloudflare’s revenue for the quarter was up 30.0% on a year-over-year basis. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at $15,681,643.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at $15,681,643.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $76.70, for a total transaction of $4,017,852.80. Following the completion of the transaction, the chief executive officer now owns 211,394 shares of the company’s stock, valued at $16,213,919.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 504,552 shares of company stock worth $41,582,545 over the last ninety days. 12.83% of the stock is owned by company insiders.

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.