Elo Mutual Pension Insurance Co Buys 136 Shares of Cloudflare, Inc. (NYSE:NET)

Elo Mutual Pension Insurance Co boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,196 shares of the company’s stock after buying an additional 136 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cloudflare were worth $2,253,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NET. Forum Financial Management LP increased its holdings in shares of Cloudflare by 6.1% during the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after acquiring an additional 162 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after buying an additional 171 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Cloudflare by 5.6% during the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock valued at $322,000 after buying an additional 178 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its position in shares of Cloudflare by 2.7% during the first quarter. Joel Isaacson & Co. LLC now owns 6,949 shares of the company’s stock valued at $673,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NET shares. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Piper Sandler lifted their price objective on Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Susquehanna upped their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $76.00 to $82.00 in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.29.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $84.97, for a total value of $1,274,550.00. Following the completion of the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $26,335,346.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $85.28, for a total transaction of $2,186,579.20. Following the sale, the chief operating officer now owns 211,394 shares in the company, valued at $18,027,680.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $84.97, for a total transaction of $1,274,550.00. Following the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at approximately $26,335,346.89. The disclosure for this sale can be found here. Insiders have sold a total of 572,062 shares of company stock valued at $46,086,211 over the last ninety days. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Up 6.2 %

NET stock opened at $82.90 on Friday. The business’s 50-day moving average price is $79.46 and its 200-day moving average price is $82.64. The stock has a market cap of $28.17 billion, a P/E ratio of -156.42 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.12 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.