Cloudflare, Inc. (NYSE:NET) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 37.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,133 shares of the company’s stock after buying an additional 3,835 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cloudflare were worth $1,143,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NET. CVA Family Office LLC boosted 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 grew its holdings in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare in the third quarter valued at approximately $38,000. Quest Partners LLC purchased a new position in shares of Cloudflare during the third quarter valued at approximately $54,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Cloudflare by 212.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 868 shares of the company’s stock worth $72,000 after acquiring an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at $19,572,040.44. This trade represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 629,592 shares of company stock worth $61,334,450 in the last ninety days. 12.83% of the stock is owned by insiders.

Cloudflare Stock Performance

NYSE:NET opened at $112.69 on Friday. The firm has a 50-day moving average of $98.69 and a two-hundred day moving average of $86.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market cap of $38.67 billion, a P/E ratio of -433.42 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42.

Cloudflare (NYSE:NET) last issued its quarterly 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 return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NET. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Piper Sandler increased their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Mizuho lifted their price target on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wells Fargo & Company upped 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. Finally, UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.81.

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.