Cloudflare, Inc. (NYSE:NET) Shares Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. raised its holdings in Cloudflare, Inc. (NYSE:NET) by 151.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,156 shares of the company’s stock after purchasing an additional 1,298 shares during the quarter. Rakuten Securities Inc.’s holdings in Cloudflare were worth $243,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NET. CreativeOne Wealth LLC boosted its position in Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after acquiring an additional 58 shares during the last quarter. Yousif Capital Management LLC increased its stake in Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock worth $447,000 after acquiring an additional 98 shares during the last quarter. Baxter Bros Inc. raised its holdings in Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after buying an additional 100 shares during the period. Ellevest Inc. lifted its holdings in shares of Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after purchasing an additional 106 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Up 4.2%

NYSE NET opened at $179.15 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $181.81. The business has a 50 day moving average price of $141.25 and a 200-day moving average price of $130.84. The company has a market cap of $62.10 billion, a price-to-earnings ratio of -814.33 and a beta of 1.84.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the previous year, the business posted $0.16 EPS. Cloudflare’s revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NET. Jefferies Financial Group dropped their price target on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, May 9th. KeyCorp initiated coverage on shares of Cloudflare in a research report on Friday, June 6th. They set an “overweight” rating and a $210.00 price target for the company. Capital One Financial raised Cloudflare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. Royal Bank of Canada reduced their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, UBS Group raised their target price on Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $145.92.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the completion of the sale, the insider now owns 413,413 shares of the company’s stock, valued at approximately $54,095,091.05. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,601 shares of company stock worth $87,251,258. Insiders own 10.89% of the company’s stock.

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.