Ballentine Partners LLC Has $301,000 Position in Cloudflare, Inc. (NYSE:NET)

Ballentine Partners LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 40.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,718 shares of the company’s stock after acquiring an additional 1,062 shares during the quarter. Ballentine Partners LLC’s holdings in Cloudflare were worth $301,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. CVA Family Office LLC boosted its holdings in 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 acquiring an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cloudflare by 595.0% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare in the 2nd quarter worth $29,000. Quarry LP grew its position in 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. Finally, Versant Capital Management Inc increased its stake in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Down 0.9 %

Shares of NET opened at $87.94 on Tuesday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $83.20 and its 200-day moving average price is $80.60.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. During the same quarter last year, the business posted ($0.12) earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Mizuho raised their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Susquehanna boosted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Scotiabank started coverage on Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $91.72.

Insider Transactions at Cloudflare

In related news, CAO Janel Riley sold 3,495 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cloudflare news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the sale, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at $6,546,941.95. 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 is available at this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the company’s 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 completion of the sale, the insider now directly owns 195,303 shares of the company’s stock, valued at approximately $15,071,532.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,552 shares of company stock valued at $42,994,705. 12.83% of the stock is owned by corporate 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.