Cloudflare, Inc. (NYSE:NET) Shares Acquired by Davis Rea LTD.

Davis Rea LTD. boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 19.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,056 shares of the company’s stock after buying an additional 25,100 shares during the quarter. Cloudflare accounts for about 5.4% of Davis Rea LTD.’s portfolio, making the stock its 7th largest holding. Davis Rea LTD.’s holdings in Cloudflare were worth $12,300,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in shares of 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 purchasing an additional 2,575,396 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cloudflare by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after buying an additional 412,864 shares in the last quarter. Capital World Investors increased its position in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after buying an additional 584,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Cloudflare by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after acquiring an additional 19,446 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’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 completion of the transaction, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. The trade was 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. In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, October 18th. The shares were sold at an average price of $90.88, for a total transaction of $1,363,200.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $25,573,904.64. The trade was 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 accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 519,552 shares of company stock worth $42,763,195 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $88.04 on Thursday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The stock has a 50 day simple moving average of $83.43 and a 200 day simple moving average of $80.51. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The stock has a market cap of $30.08 billion, a P/E ratio of -169.51 and a beta of 1.10.

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

Analysts Set New Price Targets

Several research firms recently commented on NET. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research note on Friday, August 2nd. Piper Sandler increased their target price on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Wolfe Research initiated coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Mizuho boosted their price target on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $91.72.

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.