Cloudflare, Inc. (NYSE:NET) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in Cloudflare, Inc. (NYSE:NET) by 17.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,292 shares of the company’s stock after buying an additional 1,261 shares during the period. National Bank of Canada FI’s holdings in Cloudflare were worth $671,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 752 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Cloudflare during the 2nd quarter worth approximately $320,000. Carnegie Investment Counsel increased its holdings in Cloudflare by 6.5% in the 2nd quarter. Carnegie Investment Counsel now owns 165,268 shares of the company’s stock valued at $13,689,000 after purchasing an additional 10,148 shares during the last quarter. Private Advisory Group LLC raised its position in Cloudflare by 18.7% in the second quarter. Private Advisory Group LLC now owns 32,680 shares of the company’s stock valued at $2,707,000 after purchasing an additional 5,137 shares during the period. Finally, Advisory Resource Group lifted its stake in Cloudflare by 57.6% during the second quarter. Advisory Resource Group now owns 12,416 shares of the company’s stock worth $1,028,000 after purchasing an additional 4,536 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Down 1.1 %

NET opened at $113.60 on Friday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00. The business’s 50 day moving average is $96.10 and its two-hundred day moving average is $85.03. The firm has a market cap of $38.99 billion, a price-to-earnings ratio of -436.92 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. On average, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NET shares. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Mizuho boosted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. BNP Paribas began coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Finally, Piper Sandler raised their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.20.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40. Following the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $19,572,040.44. This trade represents a 12.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 524,824 shares of company stock worth $49,037,888. 12.83% of the stock is owned by company insiders.

Cloudflare 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.