Cloudflare, Inc. (NYSE:NET) Position Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 37.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,133 shares of the company’s stock after buying an additional 3,835 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cloudflare were worth $1,143,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NET. Virtu Financial LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth about $1,268,000. Advisory Resource Group increased its stake in shares of Cloudflare by 1.6% in the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after purchasing an additional 195 shares during the period. Toronto Dominion Bank raised its holdings in shares of Cloudflare by 30.1% during the third quarter. Toronto Dominion Bank now owns 37,158 shares of the company’s stock valued at $3,006,000 after buying an additional 8,596 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Cloudflare by 5.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 83,680 shares of the company’s stock worth $6,769,000 after buying an additional 4,000 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank boosted their price target on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. UBS Group increased their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $97.81.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $22,284,303.57. The trade was a 5.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00. Following the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,873,820.20. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 629,592 shares of company stock valued at $61,334,450 in the last quarter. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 3.8 %

Shares of Cloudflare stock opened at $112.69 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42. The stock has a 50-day moving average price of $98.69 and a 200 day moving average price of $86.54. The company has a market cap of $38.67 billion, a P/E ratio of -433.42 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal 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.