XTX Topco Ltd Grows Stock Position in Cloudflare, Inc. (NYSE:NET)

XTX Topco Ltd lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 114.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,787 shares of the company’s stock after acquiring an additional 6,285 shares during the quarter. XTX Topco Ltd’s holdings in Cloudflare were worth $976,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Cloudflare by 6.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock valued at $5,808,000 after acquiring an additional 4,300 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Cloudflare by 5.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock valued at $5,478,000 after acquiring an additional 3,164 shares during the period. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after acquiring an additional 740,914 shares during the period. Insight Holdings Group LLC bought a new position in shares of Cloudflare during the 4th quarter valued at approximately $1,141,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Cloudflare by 140.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 453,651 shares of the company’s stock valued at $43,927,000 after acquiring an additional 265,281 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Down 0.5 %

NYSE NET opened at $82.45 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $79.46 and a two-hundred day moving average of $82.42. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of -155.57 and a beta of 1.10. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NET shares. Piper Sandler boosted their price objective on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Susquehanna increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price objective on shares of Cloudflare in a report on Monday, June 17th. Finally, Robert W. Baird increased their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.29.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $22,050,739.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $22,050,739.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.65, for a total value of $247,950.00. Following the sale, the insider now owns 195,303 shares of the company’s stock, valued at $16,141,792.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 572,062 shares of company stock worth $46,086,211. 12.83% of the stock is currently owned by insiders.

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.