Cloudflare, Inc. (NYSE:NET) Holdings Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,023 shares of the company’s stock after acquiring an additional 6,156 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cloudflare were worth $2,186,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NET. Baillie Gifford & Co. grew its position in Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after acquiring an additional 412,864 shares in the last quarter. Capital World Investors grew its holdings in shares of Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after acquiring an additional 584,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Cloudflare by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after acquiring an additional 19,446 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after acquiring an additional 855,334 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $21,963,504.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock worth $39,737,342 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. UBS Group upped their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Mizuho increased their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price target on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus price target of $92.88.

Cloudflare Stock Down 2.5 %

NYSE NET opened at $90.93 on Wednesday. Cloudflare, Inc. has a twelve month low of $62.39 and a twelve month high of $116.00. The stock has a market cap of $31.07 billion, a PE ratio of -349.73 and a beta of 1.10. The firm has a 50-day simple moving average of $85.25 and a 200 day simple moving average of $80.70. 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 (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.53% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, research 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.