Cloudflare, Inc. (NYSE:NET) Shares Bought by Certuity LLC

Certuity LLC grew its position in Cloudflare, Inc. (NYSE:NET) by 17.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,939 shares of the company’s stock after acquiring an additional 432 shares during the quarter. Certuity LLC’s holdings in Cloudflare were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Cloudflare by 62.9% during the fourth quarter. Private Advisor Group LLC now owns 15,300 shares of the company’s stock worth $1,274,000 after purchasing an additional 5,905 shares during the period. Apollon Wealth Management LLC acquired a new stake in Cloudflare during the fourth quarter worth about $231,000. Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,030,682 shares of the company’s stock worth $85,815,000 after acquiring an additional 47,175 shares during the last quarter. Principal Securities Inc. acquired a new position in Cloudflare in the fourth quarter valued at approximately $301,000. Finally, Jump Financial LLC grew its holdings in shares of Cloudflare by 166.1% during the fourth quarter. Jump Financial LLC now owns 13,572 shares of the company’s stock valued at $1,130,000 after purchasing an additional 8,472 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NET has been the topic of several recent research reports. Guggenheim raised their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Scotiabank assumed coverage on shares of Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target for the company. Susquehanna increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. 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. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $92.29.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $74.46, for a total transaction of $3,900,512.64. Following the completion of the sale, the chief executive officer now directly owns 8,742 shares of the company’s stock, valued at $650,929.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $74.46, for a total transaction of $3,900,512.64. Following the sale, the chief executive officer now owns 8,742 shares in the company, valued at approximately $650,929.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $78.47, for a total transaction of $1,177,050.00. Following the completion of the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $24,320,756.39. The disclosure for this sale can be found here. Insiders have sold 632,432 shares of company stock worth $50,618,810 in the last three months. 12.83% of the stock is currently owned by insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $76.23 on Tuesday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The firm has a 50-day moving average of $80.25 and a two-hundred day moving average of $83.52. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of -143.83 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) earnings per share. As a group, analysts expect that Cloudflare, Inc. will post -0.14 earnings per share for the current fiscal year.

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.