Cloudflare, Inc. (NYSE:NET) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,157,815 shares of the company's stock after acquiring an additional 29,960 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.34% of Cloudflare worth $93,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parnassus Investments LLC grew its stake in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company's stock worth $11,196,000 after buying an additional 131,319 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Cloudflare during the 3rd quarter worth approximately $591,000. Banque Cantonale Vaudoise boosted its stake in shares of Cloudflare by 20.8% during the third quarter. Banque Cantonale Vaudoise now owns 36,753 shares of the company's stock valued at $2,973,000 after purchasing an additional 6,326 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Cloudflare in the 3rd quarter valued at about $2,677,000. Finally, Pathstone Holdings LLC grew its stake in Cloudflare by 5.2% in the third quarter. Pathstone Holdings LLC now owns 24,101 shares of the company's stock worth $1,950,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. This represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company's stock, valued at approximately $21,963,504.15. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 546,194 shares of company stock valued at $46,804,995 in the last quarter. Insiders own 12.83% of the company's stock.

Cloudflare Price Performance

NET traded down $2.56 during trading on Wednesday, reaching $99.67. The company's stock had a trading volume of 637,687 shares, compared to its average volume of 3,170,342. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $89.15 and a two-hundred day simple moving average of $81.98. The company has a market cap of $34.21 billion, a price-to-earnings ratio of -393.23 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Scotiabank upped their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Wells Fargo & Company raised their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Finally, UBS Group boosted their price target on Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $92.88.

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.