Capital International Sarl Acquires 3,727 Shares of Cloudflare, Inc. $NET

Capital International Sarl increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 245,763 shares of the company’s stock after buying an additional 3,727 shares during the quarter. Cloudflare comprises about 0.9% of Capital International Sarl’s portfolio, making the stock its 28th largest holding. Capital International Sarl’s holdings in Cloudflare were worth $52,738,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Cloudflare in the 2nd quarter worth about $541,462,000. Groupama Asset Managment bought a new position in Cloudflare in the second quarter worth approximately $225,204,000. Vanguard Group Inc. increased its holdings 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 purchasing an additional 821,684 shares during the period. KBC Group NV lifted its holdings in shares of Cloudflare by 1,388.7% in the 2nd quarter. KBC Group NV now owns 736,153 shares of the company’s stock worth $144,161,000 after buying an additional 686,702 shares during the period. Finally, Rakuten Investment Management Inc. bought a new position in shares of Cloudflare during the 3rd quarter worth $138,660,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Up 3.3%

NYSE:NET opened at $201.59 on Tuesday. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock’s fifty day moving average is $184.32 and its two-hundred day moving average is $202.65. The stock has a market capitalization of $70.61 billion, a price-to-earnings ratio of -695.11 and a beta of 1.98.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. Research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 23,332 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $190.00, for a total value of $4,433,080.00. Following the completion of the sale, the chief accounting officer directly owned 56,791 shares of the company’s stock, valued at approximately $10,790,290. This represents a 29.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $173.35, for a total value of $436,842.00. Following the completion of the sale, the director directly owned 495,191 shares of the company’s stock, valued at $85,841,359.85. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 551,851 shares of company stock worth $102,673,182. 10.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NET has been the topic of several recent research reports. TD Cowen reiterated a “buy” rating on shares of Cloudflare in a report on Tuesday, January 27th. Barclays increased their target price on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $260.00 price objective on shares of Cloudflare and gave the company an “outperform” rating in a report on Wednesday, February 11th. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, February 13th. Finally, New Street Research set a $140.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $230.70.

Cloudflare Company 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.