Capital International Inc. CA Increases Position in Cloudflare, Inc. $NET

Capital International Inc. CA increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,650 shares of the company’s stock after buying an additional 7,895 shares during the quarter. Capital International Inc. CA’s holdings in Cloudflare were worth $30,611,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Cloudflare by 2.6% during 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 during the period. Geode Capital Management LLC lifted its stake in shares of Cloudflare by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after acquiring an additional 270,227 shares during the period. Norges Bank purchased a new stake in shares of Cloudflare in the second quarter valued at about $541,462,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 47,698 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Cloudflare by 96.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after acquiring an additional 639,245 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the sale, the insider owned 34,514 shares in the company, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 41,557 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the sale, the chief financial officer owned 85,452 shares in the company, valued at $15,812,038.08. This represents a 32.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 551,851 shares of company stock valued at $102,673,182 in the last ninety days. Corporate insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of several analyst reports. Morgan Stanley set a $245.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a research note on Wednesday, February 11th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a report on Monday, January 26th. Zacks Research downgraded shares of Cloudflare from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Finally, Scotiabank decreased their price target on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Cloudflare Price Performance

Cloudflare stock opened at $201.59 on Tuesday. The firm has a market capitalization of $70.61 billion, a PE ratio of -695.11 and a beta of 1.98. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The firm’s 50-day simple moving average is $184.32 and its 200 day simple moving average is $202.65. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last posted its 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. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same period last year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

About Cloudflare

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.