Vanguard Personalized Indexing Management LLC Increases Holdings in Cloudflare, Inc. (NYSE:NET)

Vanguard Personalized Indexing Management LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,422 shares of the company’s stock after purchasing an additional 1,330 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Cloudflare were worth $2,106,000 at the end of the most recent reporting period.

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

Cloudflare Stock Down 0.5 %

Shares of NET opened at $82.45 on Friday. The company has a 50-day simple moving average of $79.46 and a 200-day simple moving average of $82.52. The firm has a market capitalization of $28.02 billion, a P/E ratio of -155.57 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, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results 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 business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. 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 firm posted ($0.12) earnings per share. On average, equities research analysts expect that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on NET shares. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target for the company. Mizuho upped their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Wolfe Research assumed coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three equities research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.29.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following the sale, 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 is accessible through this hyperlink. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $247,950.00. Following the sale, the insider now directly owns 195,303 shares of the company’s stock, valued at $16,141,792.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $22,050,739.08. 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 quarter. 12.83% of the stock is owned by company insiders.

About Cloudflare

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.