Brooklyn Investment Group Purchases Shares of 1,314 Cloudflare, Inc. (NYSE:NET)

Brooklyn Investment Group acquired a new position in Cloudflare, Inc. (NYSE:NET) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,314 shares of the company’s stock, valued at approximately $106,000.

Several other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. boosted its stake in Cloudflare by 8.5% in the 2nd 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 during the period. Marshall Wace LLP boosted its position in shares of Cloudflare by 123.4% during the second 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 during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Cloudflare during the third quarter valued at $25,588,000. American Century Companies Inc. increased its holdings in Cloudflare by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock valued at $115,526,000 after acquiring an additional 277,228 shares during the last quarter. Finally, Glynn Capital Management LLC bought a new stake in Cloudflare in the 2nd quarter valued at $16,765,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, 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 value of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the transaction, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. The trade was a 53.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 606,952 shares of company stock valued at $53,078,202 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NET shares. Royal Bank of Canada lifted their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Guggenheim upped their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.88.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $99.38 on Thursday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock’s fifty day moving average price is $89.15 and its 200-day moving average price is $81.98. The firm has a market cap of $34.11 billion, a P/E ratio of -382.23 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.