Cloudflare, Inc. (NYSE:NET) Shares Acquired by Y.D. More Investments Ltd

Y.D. More Investments Ltd increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,227 shares of the company’s stock after buying an additional 2,053 shares during the quarter. Y.D. More Investments Ltd’s holdings in Cloudflare were worth $2,918,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Cloudflare in the 4th quarter worth about $221,858,000. Baillie Gifford & Co. increased its stake in shares of Cloudflare by 8.5% in the second 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 period. 1832 Asset Management L.P. boosted its position in shares of Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after buying an additional 1,597,900 shares during the period. Vanguard Group Inc. boosted its position in shares of Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the period. Finally, Capital World Investors grew its holdings in Cloudflare by 2.1% in the 1st 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 in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on NET shares. Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Guggenheim increased their target price on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Cloudflare in a research note on Monday, June 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. Three 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.29.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.65, for a total transaction of $247,950.00. Following the transaction, the insider now owns 195,303 shares of the company’s stock, valued at approximately $16,141,792.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $247,950.00. Following the transaction, the insider now directly owns 195,303 shares in the company, valued at approximately $16,141,792.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $77.54, for a total value of $994,062.80. Following the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $16,391,490.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 597,702 shares of company stock valued at $48,088,422. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $78.56 on Thursday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The firm’s 50 day simple moving average is $80.09 and its 200-day simple moving average is $83.37. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The company has a market cap of $26.69 billion, a P/E ratio of -148.22 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 the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.14 EPS for the current year.

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.