Main Street Financial Solutions LLC Has $240,000 Position in Cloudflare, Inc. (NYSE:NET)

Main Street Financial Solutions LLC boosted its position in Cloudflare, Inc. (NYSE:NET) by 15.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,961 shares of the company’s stock after buying an additional 392 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Cloudflare were worth $240,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the last quarter. Marshall Wace LLP raised its holdings in 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 in the last quarter. Capital World Investors boosted its position in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Vanguard Group Inc. grew its stake in Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares in the last quarter. Finally, Natixis acquired a new position in Cloudflare during the first quarter worth $28,334,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, Director Maria S. Eitel sold 6,875 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the sale, the director now owns 5,927 shares of the company’s stock, valued at approximately $521,576. The trade was a 53.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the 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 completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 578,316 shares of company stock worth $49,124,681 in the last ninety days. 12.83% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $89.79 on Friday. The firm has a 50 day moving average of $86.12 and a 200-day moving average of $80.88. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00. 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 has a market capitalization of $30.68 billion, a PE ratio of -345.33 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million during 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 predict that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the topic of several research analyst reports. BNP Paribas initiated coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Mizuho lifted their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Scotiabank increased their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Susquehanna lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company increased their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.88.

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.