Cloudflare, Inc. (NYSE:NET) Stock Holdings Increased by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,101 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Pathstone Holdings LLC’s holdings in Cloudflare were worth $1,950,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Baillie Gifford & Co. grew its position in Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after buying an additional 2,575,396 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the third quarter valued at approximately $25,588,000. American Century Companies Inc. raised its holdings in Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares in the last quarter. Finally, Glynn Capital Management LLC acquired a new stake in Cloudflare in the second quarter worth approximately $16,765,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Down 1.4 %

Shares of Cloudflare stock opened at $102.24 on Wednesday. The firm has a market cap of $35.09 billion, a price-to-earnings ratio of -393.19 and a beta of 1.10. The stock has a 50-day simple moving average of $88.68 and a 200-day simple moving average of $81.76. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (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 firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NET. Guggenheim boosted their price objective on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Scotiabank upped their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price 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. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.88.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now 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. Over the last three months, insiders sold 546,194 shares of company stock worth $46,804,995. Corporate insiders own 12.83% of the company’s stock.

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.