Metis Global Partners LLC Boosts Stock Position in Cloudflare, Inc. (NYSE:NET)

Metis Global Partners LLC boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,786 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Metis Global Partners LLC’s holdings in Cloudflare were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after buying an additional 119 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the period. Quarry LP raised its position in Cloudflare by 73.4% during 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. Forum Financial Management LP lifted its stake in shares of Cloudflare by 6.1% in the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after purchasing an additional 168 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $81.91, for a total value of $2,100,172.40. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $15,741,218.07. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 543,199 shares of company stock valued at $46,183,984. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Mizuho lifted their price target on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler increased their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $92.88.

Cloudflare Trading Up 2.8 %

NYSE NET opened at $92.32 on Tuesday. The company’s 50-day simple moving average is $86.12 and its two-hundred day simple moving average is $80.78. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $116.00. The company has a market capitalization of $31.55 billion, a price-to-earnings ratio of -355.08 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data 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 analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS 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.