nVerses Capital LLC Invests $1 Million in Cloudflare, Inc. (NYSE:NET)

nVerses Capital LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,400 shares of the company’s stock, valued at approximately $1,003,000.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the period. Riverview Trust Co acquired a new stake in shares of Cloudflare in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cloudflare during the 2nd quarter worth approximately $29,000. Finally, Quarry LP increased its stake in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.60, for a total value of $2,117,864.00. Following the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,873,820.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the completion of the transaction, the insider now owns 195,303 shares of the company’s stock, valued at $15,071,532.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.60, for a total value of $2,117,864.00. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $15,873,820.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 402,784 shares of company stock worth $31,947,275. 12.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NET has been the subject of several research reports. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Scotiabank initiated coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price for the company. BNP Paribas initiated coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Finally, Mizuho raised their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday. Four 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’s stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $91.72.

Cloudflare Stock Down 0.4 %

Shares of NYSE NET traded down $0.39 during mid-day trading on Thursday, hitting $90.95. 243,848 shares of the stock traded hands, compared to its average volume of 3,201,808. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The company has a market cap of $30.90 billion, a price-to-earnings ratio of -172.34 and a beta of 1.10. The stock has a fifty day moving average price of $81.86 and a 200-day moving average price of $80.98.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating 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 quarter in the prior year, the business earned ($0.12) earnings per share. Cloudflare’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current year.

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.