Meitav Investment House Ltd. Has $950,000 Stock Position in Cloudflare, Inc. (NYSE:NET)

Meitav Investment House Ltd. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 46.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,900 shares of the company’s stock after buying an additional 3,800 shares during the quarter. Meitav Investment House Ltd.’s holdings in Cloudflare were worth $950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. Baillie Gifford & Co. raised its position in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after purchasing an additional 2,575,396 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cloudflare by 1.5% during the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after acquiring an additional 412,864 shares during the period. Capital World Investors boosted its stake in Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Cloudflare by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after purchasing an additional 19,446 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 185,386 shares in the company, valued at approximately $15,114,520.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the completion of the transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 519,552 shares of company stock worth $42,763,195 in the last quarter. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NET. Robert W. Baird upped their price objective on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Susquehanna raised 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 Monday, August 5th. Guggenheim boosted their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price 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. Finally, Wolfe Research started coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Price Performance

Shares of NYSE NET opened at $88.37 on Thursday. The business’s 50 day moving average is $83.43 and its 200-day moving average is $80.51. The firm has a market cap of $30.20 billion, a P/E ratio of -169.51 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Cloudflare’s quarterly revenue was up 30.0% on a year-over-year basis. Equities research analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

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.