Banque Cantonale Vaudoise Raises Stock Position in Cloudflare, Inc. (NYSE:NET)

Banque Cantonale Vaudoise lifted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,753 shares of the company's stock after buying an additional 6,326 shares during the period. Banque Cantonale Vaudoise's holdings in Cloudflare were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NET. CVA Family Office LLC increased its holdings in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after buying an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company's stock worth $27,000 after buying an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare during the second quarter worth $29,000. Quarry LP increased its holdings in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after purchasing an additional 146 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company's stock valued at $38,000 after purchasing an additional 421 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $81.91, for a total value of $2,100,172.40. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company's stock, valued at $15,741,218.07. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $76.55, for a total transaction of $4,009,995.20. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at $823,754.55. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 571,834 shares of company stock valued at $48,905,168 in the last three months. Company insiders own 12.83% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $135.00 price target on shares of Cloudflare in a report on Friday, August 2nd. Mizuho increased their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an "underperform" rating and a $65.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, Robert W. Baird increased their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Four investment 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, Cloudflare currently has a consensus rating of "Hold" and an average target price of $92.88.

Cloudflare Stock Performance

Cloudflare stock traded up $0.10 during mid-day trading on Wednesday, reaching $96.47. The company's stock had a trading volume of 2,366,087 shares, compared to its average volume of 3,176,584. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a market capitalization of $33.11 billion, a P/E ratio of -371.04 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm's fifty day moving average price is $87.19 and its two-hundred day moving average price is $81.07.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting 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 firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.