Cloudflare, Inc. $NET Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 142,650 shares of the company’s stock after buying an additional 7,895 shares during the period. Capital International Inc. CA’s holdings in Cloudflare were worth $30,611,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NET. Rakuten Investment Management Inc. purchased a new stake in shares of Cloudflare during the 3rd quarter valued at about $138,660,000. Allianz Asset Management GmbH grew its position in Cloudflare by 322.4% in the third quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company’s stock valued at $13,987,000 after acquiring an additional 49,749 shares in the last quarter. National Pension Service grew its position in Cloudflare by 1.0% in the third quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after acquiring an additional 5,939 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Cloudflare during the second quarter valued at approximately $87,868,000. Finally, Swedbank AB lifted its position in shares of Cloudflare by 27.7% during the third quarter. Swedbank AB now owns 43,878 shares of the company’s stock worth $9,416,000 after purchasing an additional 9,527 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NET shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, January 21st. Robert W. Baird set a $260.00 price target on shares of Cloudflare and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Wolfe Research reiterated a “peer perform” rating on shares of Cloudflare in a report on Monday, January 26th. Jefferies Financial Group upped their price objective on shares of Cloudflare from $185.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Finally, KeyCorp restated an “overweight” rating on shares of Cloudflare in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus price target of $230.70.

Cloudflare Stock Up 3.3%

Shares of NYSE:NET opened at $201.59 on Tuesday. The firm has a market cap of $70.61 billion, a PE ratio of -695.11 and a beta of 1.98. The company has a fifty day simple moving average of $184.32 and a 200 day simple moving average of $202.65. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 12-month low of $89.42 and a 12-month high of $260.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider directly owned 34,514 shares in the company, valued at $6,540,403. This trade represents a 42.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the sale, the chief executive officer directly owned 22,911 shares in the company, valued at $3,981,473.58. This trade represents a 69.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 551,851 shares of company stock valued at $102,673,182 over the last three months. Company insiders own 10.89% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.