Janney Montgomery Scott LLC Acquires 6,156 Shares of Cloudflare, Inc. (NYSE:NET)

Janney Montgomery Scott LLC boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 29.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,023 shares of the company's stock after acquiring an additional 6,156 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cloudflare were worth $2,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new position in shares of Cloudflare in the third quarter valued at approximately $212,000. AustralianSuper Pty Ltd increased its position in Cloudflare by 44.1% during the third quarter. AustralianSuper Pty Ltd now owns 18,508 shares of the company's stock worth $1,497,000 after acquiring an additional 5,662 shares during the period. Palumbo Wealth Management LLC increased its position in Cloudflare by 9.2% during the third quarter. Palumbo Wealth Management LLC now owns 2,659 shares of the company's stock worth $215,000 after acquiring an additional 224 shares during the period. Meitav Investment House Ltd. increased its position in Cloudflare by 46.9% during the third quarter. Meitav Investment House Ltd. now owns 11,900 shares of the company's stock worth $950,000 after acquiring an additional 3,800 shares during the period. Finally, Davis Rea LTD. increased its position in Cloudflare by 19.8% during the third quarter. Davis Rea LTD. now owns 152,056 shares of the company's stock worth $12,300,000 after acquiring an additional 25,100 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NET shares. Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Robert W. Baird lifted their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Wolfe Research started coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They set a "peer perform" rating on the stock. Wells Fargo & Company lifted their price target on shares of Cloudflare from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Finally, Scotiabank boosted their target price 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. Four equities research 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $92.88.

Cloudflare Price Performance

NYSE:NET traded up $3.25 during trading hours on Wednesday, hitting $94.16. The company's stock had a trading volume of 5,782,649 shares, compared to its average volume of 3,180,223. The stock has a fifty day simple moving average of $85.57 and a 200-day simple moving average of $80.80. The company has a market capitalization of $32.17 billion, a P/E ratio of -362.15 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a twelve month low of $66.04 and a twelve month high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other news, COO Michelle Zatlyn sold 64,100 shares of Cloudflare stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the sale, the chief operating officer now directly owns 192,177 shares of the company's stock, valued at approximately $15,681,643.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Michelle Zatlyn sold 64,100 shares of Cloudflare stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the sale, the chief operating officer now directly owns 192,177 shares of the company's stock, valued at approximately $15,681,643.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the sale, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock valued at $39,737,342 over the last ninety days. 12.83% of the stock is owned by corporate insiders.

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.