Profund Advisors LLC Has $1.45 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Profund Advisors LLC reduced its position in Cloudflare, Inc. (NYSE:NET) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,440 shares of the company’s stock after selling 1,934 shares during the quarter. Profund Advisors LLC’s holdings in Cloudflare were worth $1,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NET. Avalon Global Asset Management LLC raised its position in Cloudflare by 42.6% during the second quarter. Avalon Global Asset Management LLC now owns 100,400 shares of the company’s stock valued at $8,316,000 after purchasing an additional 30,000 shares in the last quarter. Summit Trail Advisors LLC bought a new position in shares of Cloudflare in the 2nd quarter valued at $201,000. Sei Investments Co. raised its holdings in shares of Cloudflare by 30.7% during the 2nd quarter. Sei Investments Co. now owns 127,541 shares of the company’s stock worth $10,564,000 after buying an additional 29,963 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Cloudflare by 31.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 32,983 shares of the company’s stock worth $2,732,000 after buying an additional 7,919 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Cloudflare by 114.2% in the second quarter. XTX Topco Ltd now owns 11,787 shares of the company’s stock valued at $976,000 after buying an additional 6,285 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Up 3.8 %

NET stock opened at $85.62 on Tuesday. The firm has a fifty day moving average price of $79.50 and a 200 day moving average price of $82.21. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The firm has a market cap of $29.09 billion, a PE ratio of -161.54 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last posted its 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. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $22,050,739.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 572,062 shares of company stock worth $46,086,211. 12.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NET has been the subject of a number of research reports. UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Scotiabank assumed coverage on Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective on the stock. Finally, Mizuho lifted their price target on Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.29.

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.