Mediolanum International Funds Ltd Invests $614,000 in Cloudflare, Inc. (NYSE:NET)

Mediolanum International Funds Ltd bought a new position in Cloudflare, Inc. (NYSE:NET) in the 3rd quarter, HoldingsChannel reports. The fund bought 7,534 shares of the company’s stock, valued at approximately $614,000.

Several other hedge funds and other institutional investors have also modified their holdings of NET. Allspring Global Investments Holdings LLC boosted its position in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the last quarter. Quarry LP boosted its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Forum Financial Management LP boosted its position in Cloudflare by 6.1% during the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in Cloudflare by 0.5% during the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Susquehanna lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company. Robert W. Baird upped their price target on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada upped their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Scotiabank started coverage on Cloudflare in a research note on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target for the company. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.72.

Insider Activity

In other news, COO Michelle Zatlyn sold 64,100 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00. Following the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,681,643.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Michelle Zatlyn sold 64,100 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00. Following the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,681,643.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred 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 sale, the insider now owns 195,303 shares in the company, valued at approximately $15,071,532.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 522,552 shares of company stock worth $42,994,705. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 0.9 %

Cloudflare stock opened at $88.76 on Monday. The business has a 50 day moving average price of $83.20 and a two-hundred day moving average price of $80.60. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of -167.47 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS 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 firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current year.

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.