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

Daiwa Securities Group Inc. increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,752 shares of the company’s stock after purchasing an additional 2,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Cloudflare were worth $1,840,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after purchasing an additional 19,446 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cloudflare by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,251,670 shares of the company’s stock valued at $103,676,000 after acquiring an additional 35,884 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NET shares. UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho upped their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. BNP Paribas started coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Robert W. Baird upped their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $92.88.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $840,003.66. This represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 606,952 shares of company stock worth $53,078,202. 12.83% of the stock is owned by company insiders.

Cloudflare Trading Down 2.8 %

NYSE NET opened at $99.37 on Friday. The stock has a market capitalization of $34.10 billion, a P/E ratio of -382.23 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The firm has a 50-day moving average price of $89.57 and a 200 day moving average price of $82.10. 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 (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.