Jackson Square Capital LLC Decreases Holdings in Cloudflare, Inc. (NYSE:NET)

Jackson Square Capital LLC decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,184 shares of the company’s stock after selling 332 shares during the period. Jackson Square Capital LLC’s holdings in Cloudflare were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings 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 in the last quarter. Quarry LP lifted its stake in shares of Cloudflare by 73.4% in 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. Forum Financial Management LP lifted its stake in shares of Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after buying an additional 162 shares in the last quarter. Finally, Soltis Investment Advisors LLC lifted its stake in shares of Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald 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 Friday, August 2nd. Wolfe Research initiated coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Guggenheim raised 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. Piper Sandler raised their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Susquehanna raised their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.72.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $92.49 on Thursday. The firm’s fifty day simple moving average is $84.30 and its 200-day simple moving average is $80.59. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of -318.93 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $61.34 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

Insider Activity

In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. 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 is available at this link. Also, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the completion of the transaction, the director now directly owns 5,927 shares of the company’s stock, valued at approximately $521,576. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock valued at $39,737,342 in the last ninety days. 12.83% of the stock is currently owned by company insiders.

About Cloudflare

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.