Cloudflare, Inc. (NYSE:NET) Shares Acquired by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its stake in Cloudflare, Inc. (NYSE:NET) by 20.8% during the third quarter, Holdings Channel.com reports. The fund owned 36,753 shares of the company’s stock after purchasing an additional 6,326 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Cloudflare were worth $2,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Acadian Asset Management LLC boosted its holdings in Cloudflare by 47.3% in the 1st quarter. Acadian Asset Management LLC now owns 12,397 shares of the company’s stock worth $1,196,000 after buying an additional 3,980 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Cloudflare by 22.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,607 shares of the company’s stock worth $1,027,000 after buying an additional 1,933 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in Cloudflare by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,200 shares of the company’s stock worth $407,000 after buying an additional 2,100 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in shares of Cloudflare during the first quarter valued at approximately $73,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s 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 sale, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 571,834 shares of company stock valued at $48,905,168 in the last quarter. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several research reports. Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. BNP Paribas assumed coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.88.

Cloudflare Price Performance

Cloudflare stock opened at $96.42 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The firm has a market cap of $33.09 billion, a PE ratio of -370.85 and a beta of 1.10. The company’s 50 day moving average is $86.83 and its two-hundred day moving average is $80.96.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.