Cloudflare, Inc. (NYSE:NET) Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,324 shares of the company’s stock after purchasing an additional 176 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Cloudflare were worth $188,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC boosted its stake in shares of Cloudflare by 121.3% in 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 during the last quarter. Riverview Trust Co purchased a new stake in Cloudflare in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare during the 2nd quarter valued at approximately $29,000. Finally, Quarry LP lifted its stake in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $90.88, for a total transaction of $1,363,200.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $25,573,904.64. This trade represents 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 this hyperlink. In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 owns 10,761 shares of the company’s stock, valued at approximately $1,010,995.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $90.88, for a total value of $1,363,200.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $25,573,904.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 522,552 shares of company stock worth $42,994,705 over the last quarter. 12.83% of the stock is currently owned by company insiders.

Cloudflare Trading Down 0.9 %

Shares of NET opened at $87.64 on Thursday. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The firm has a market capitalization of $29.78 billion, a P/E ratio of -165.36 and a beta of 1.10. The firm has a 50-day moving average price of $82.93 and a 200 day moving average price of $80.79. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its quarterly earnings results 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. The business had revenue of $401.00 million during 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 business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.12) EPS. Sell-side analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

NET has been the topic of several analyst reports. Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Finally, Susquehanna increased their target price on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Four 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 MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $91.72.

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.