9,490 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by Atom Investors LP

Atom Investors LP bought a new stake in Cloudflare, Inc. (NYSE:NET) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 9,490 shares of the company’s stock, valued at approximately $768,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares during the period. Elo Mutual Pension Insurance Co boosted its position in Cloudflare by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after buying an additional 136 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Cloudflare by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after acquiring an additional 137 shares in the last quarter. Quarry LP increased its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Finally, Forum Financial Management LP raised its stake in shares of Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after acquiring an additional 162 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Down 0.2 %

Shares of NYSE:NET opened at $104.89 on Wednesday. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market cap of $36.00 billion, a P/E ratio of -403.42 and a beta of 1.10. The firm has a fifty day moving average price of $91.03 and a 200 day moving average price of $82.94.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NET shares. Piper Sandler boosted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Mizuho boosted their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. 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. Scotiabank boosted their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $92.00 to $130.00 in a report on Monday. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus price target of $94.40.

Insider Activity at Cloudflare

In related news, 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 transaction of $605,000.00. Following the transaction, the director now owns 5,927 shares of the company’s stock, valued at $521,576. This represents a 53.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,568 shares of company stock worth $47,573,767 in the last three months. Insiders own 12.83% of the company’s stock.

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.