Cloudflare, Inc. (NYSE:NET) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET) by 12.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the company’s stock after acquiring an additional 391 shares during the period. Inspire Investing LLC’s holdings in Cloudflare were worth $287,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare during the 2nd quarter worth about $29,000. Quarry LP lifted its stake in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. BNP Paribas started coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Susquehanna lifted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and upped their target price for the company from $76.00 to $82.00 in a research report on Tuesday, June 25th. Finally, Wolfe Research assumed coverage on Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Four 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.72.

Cloudflare Trading Up 0.4 %

NYSE:NET opened at $90.80 on Friday. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a fifty day moving average price of $82.39 and a two-hundred day moving average price of $81.01. The stock has a market capitalization of $30.85 billion, a price-to-earnings ratio of -171.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the completion of the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at $15,071,532.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.71, for a total value of $1,180,650.00. Following the sale, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $24,395,141.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at approximately $15,071,532.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 507,552 shares of company stock valued at $41,631,505 in the last quarter. 12.83% of the stock is currently owned by corporate 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.