Charles Schwab Investment Management Inc. Purchases 29,960 Shares of Cloudflare, Inc. (NYSE:NET)

Charles Schwab Investment Management Inc. boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 1,157,815 shares of the company’s stock after buying an additional 29,960 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cloudflare were worth $93,656,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NET. CVA Family Office LLC raised its stake in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Cloudflare during the 2nd quarter worth $29,000. Versant Capital Management Inc lifted its holdings in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the 3rd quarter valued at about $38,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.88.

Cloudflare Price Performance

Shares of NYSE NET opened at $102.24 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm’s 50-day simple moving average is $88.68 and its 200 day simple moving average is $81.76. The stock has a market cap of $35.09 billion, a price-to-earnings ratio of -393.23 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 546,194 shares of company stock worth $46,804,995 in the last quarter. 12.83% of the stock is currently owned by corporate 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.