Cloudflare, Inc. (NYSE:NET) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Cloudflare, Inc. (NYSE:NET) by 10.8% in the first quarter, HoldingsChannel.com reports. The fund owned 25,679 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cloudflare were worth $2,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. CreativeOne Wealth LLC lifted its holdings in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after purchasing an additional 58 shares during the last quarter. Spire Wealth Management lifted its stake in Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $108,000 after buying an additional 95 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock valued at $447,000 after acquiring an additional 98 shares during the period. Baxter Bros Inc. boosted its holdings in shares of Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after acquiring an additional 100 shares during the period. Finally, Ellevest Inc. grew its position in shares of Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock worth $489,000 after acquiring an additional 102 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $171.41, for a total value of $4,395,123.81. Following the completion of the transaction, the insider directly owned 6,390 shares in the company, valued at $1,095,309.90. This trade represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $196.09, for a total transaction of $1,764,810.00. Following the completion of the transaction, the insider directly owned 160,377 shares in the company, valued at approximately $31,448,325.93. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 530,987 shares of company stock valued at $80,832,794 over the last 90 days. 10.89% of the stock is owned by insiders.

Cloudflare Stock Up 0.3%

NET stock opened at $185.45 on Thursday. The firm has a market cap of $64.28 billion, a PE ratio of -806.30 and a beta of 1.85. Cloudflare, Inc. has a 12 month low of $69.26 and a 12 month high of $198.01. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a 50 day simple moving average of $159.94 and a 200 day simple moving average of $136.78.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. Cloudflare’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on NET. The Goldman Sachs Group cut their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. UBS Group lifted their price target on Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 9th. CICC Research upgraded Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price objective for the company in a research report on Monday, May 12th. Piper Sandler restated a “neutral” rating and issued a $151.00 target price (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Finally, Capital One Financial raised Cloudflare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $145.92.

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.