Vestmark Advisory Solutions Inc. Has $677,000 Holdings in Cloudflare, Inc. $NET

Vestmark Advisory Solutions Inc. lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 48.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,155 shares of the company’s stock after selling 2,952 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Cloudflare were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of NET. Vanguard Group Inc. raised its position in shares of Cloudflare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after acquiring an additional 821,684 shares in the last quarter. Geode Capital Management LLC grew its stake in Cloudflare by 5.1% during the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after purchasing an additional 270,227 shares during the period. Norges Bank bought a new stake in Cloudflare in the second quarter worth approximately $541,462,000. Charles Schwab Investment Management Inc. lifted its stake in Cloudflare by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,368,906 shares of the company’s stock valued at $268,073,000 after buying an additional 47,698 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cloudflare by 96.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after buying an additional 639,245 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. Royal Bank Of Canada raised their price target on shares of Cloudflare from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. KeyCorp reiterated an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on shares of Cloudflare in a research report on Tuesday, January 20th. Finally, Scotiabank decreased their target price on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and an average price target of $230.70.

Cloudflare Trading Up 1.6%

NYSE:NET opened at $174.59 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a market cap of $61.16 billion, a PE ratio of -602.01 and a beta of 1.97. The firm has a 50-day moving average of $186.33 and a 200-day moving average of $203.14.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $173.78, for a total value of $9,103,291.52. Following the completion of the sale, the chief executive officer directly owned 22,911 shares of the company’s stock, valued at approximately $3,981,473.58. This represents a 69.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $173.35, for a total transaction of $436,842.00. Following the completion of the sale, the director owned 495,191 shares of the company’s stock, valued at approximately $85,841,359.85. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 610,780 shares of company stock worth $115,913,967. 10.89% of the stock is owned by insiders.

Cloudflare 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.