Cloudflare, Inc. (NYSE:NET) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in Cloudflare, Inc. (NYSE:NET) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 262,781 shares of the company’s stock after selling 53,747 shares during the quarter. Vontobel Holding Ltd. owned 0.08% of Cloudflare worth $21,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NET. Baillie Gifford & Co. lifted its stake in 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 in the last quarter. Marshall Wace LLP lifted its stake in 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 acquiring an additional 855,334 shares in the last quarter. Capital World Investors boosted its holdings in Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after acquiring an additional 584,566 shares during the period. Vanguard Group Inc. grew its position in 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 acquiring an additional 412,864 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in Cloudflare in the 1st quarter valued at about $37,740,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of research reports. Piper Sandler increased their target price on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank assumed coverage on Cloudflare in a research report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target on the stock. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $82.00 in a research report on Tuesday, June 25th. Finally, Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.20.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total transaction of $231,510.00. Following the completion of the transaction, the insider now owns 195,303 shares in the company, valued at approximately $15,071,532.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the sale, the insider now owns 195,303 shares of the company’s stock, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 35,117 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $83.74, for a total value of $2,940,697.58. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $16,092,901.98. 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 a total of 402,784 shares of company stock worth $31,947,275 in the last three months. Insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 2.6 %

Shares of Cloudflare stock opened at $91.34 on Thursday. The company’s fifty day moving average is $81.56 and its two-hundred day moving average is $80.91. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market capitalization of $31.04 billion, a P/E ratio of -176.98 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same period last year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts forecast 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.