7,549 Shares in Cloudflare, Inc. (NYSE:NET) Acquired by Axa S.A.

Axa S.A. purchased a new position in Cloudflare, Inc. (NYSE:NET) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,549 shares of the company’s stock, valued at approximately $625,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co lifted its position in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock worth $2,253,000 after purchasing an additional 136 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of Cloudflare by 6.1% in the 2nd 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 during the last quarter. Soltis Investment Advisors LLC raised its position in shares of Cloudflare by 0.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after acquiring an additional 168 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Cloudflare by 5.6% in the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock valued at $322,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 35,117 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total value of $2,940,697.58. Following the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $16,092,901.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Janel Riley sold 3,495 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the sale, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 35,117 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total value of $2,940,697.58. Following the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $16,092,901.98. The disclosure for this sale can be found here. In the last three months, insiders sold 417,812 shares of company stock worth $33,270,713. 12.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NET has been the subject of several recent analyst reports. UBS Group upgraded shares of Cloudflare from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $82.00 in a research report on Tuesday, June 25th. Wolfe Research began coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Piper Sandler boosted their target price on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. Finally, Mizuho boosted their price objective 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 given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus target price of $92.29.

Cloudflare Stock Performance

NYSE:NET opened at $78.10 on Wednesday. The firm’s fifty day simple moving average is $79.77 and its 200-day simple moving average is $81.73. 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 stock has a market cap of $26.54 billion, a PE ratio of -147.36 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS 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 for the quarter, compared to analyst estimates of $394.11 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts expect that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

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.