Cloudflare, Inc. (NYSE:NET) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in Cloudflare, Inc. (NYSE:NET) by 11.2% during the 3rd quarter, Holdings Channel reports. The firm owned 22,752 shares of the company’s stock after buying an additional 2,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Cloudflare were worth $1,840,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Summit Trail Advisors LLC boosted its position in Cloudflare by 342.7% during the third quarter. Summit Trail Advisors LLC now owns 10,762 shares of the company’s stock worth $871,000 after acquiring an additional 8,331 shares during the last quarter. Swedbank AB boosted its position in Cloudflare by 128.6% during the third quarter. Swedbank AB now owns 18,941 shares of the company’s stock worth $1,532,000 after acquiring an additional 10,656 shares during the last quarter. Cerity Partners LLC boosted its position in Cloudflare by 306.4% during the third quarter. Cerity Partners LLC now owns 18,416 shares of the company’s stock worth $1,490,000 after acquiring an additional 13,885 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the last quarter. Finally, Parnassus Investments LLC boosted its position in Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the sale, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $840,003.66. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 606,952 shares of company stock worth $53,078,202 in the last ninety days. 12.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Cantor Fitzgerald increased their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Scotiabank increased their price target 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. UBS Group increased their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, 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 price target on the stock. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.88.

Cloudflare Trading Down 2.8 %

Shares of NYSE:NET opened at $99.37 on Friday. The company has a market cap of $34.10 billion, a PE ratio of -382.23 and a beta of 1.10. The company’s 50-day moving average price is $89.57 and its 200 day moving average price is $82.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. 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 (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.