33,091 Shares in Cloudflare, Inc. (NYSE:NET) Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,091 shares of the company's stock, valued at approximately $2,677,000.

Several other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Cloudflare by 47.3% in the first quarter. Acadian Asset Management LLC now owns 12,397 shares of the company's stock worth $1,196,000 after acquiring an additional 3,980 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Cloudflare by 22.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,607 shares of the company's stock worth $1,027,000 after acquiring an additional 1,933 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Cloudflare by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 4,200 shares of the company's stock valued at $407,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Natixis purchased a new position in shares of Cloudflare in the 1st quarter worth about $28,334,000. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on NET. Needham & Company LLC restated a "buy" rating and set a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on Cloudflare from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Mizuho lifted their target price on Cloudflare from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price target on Cloudflare from $90.00 to $99.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Cloudflare has an average rating of "Hold" and a consensus target price of $92.88.

Insider Buying and Selling

In related news, Director Maria S. Eitel sold 6,875 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the sale, the director now owns 5,927 shares of the company's stock, valued at $521,576. This represents a 53.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 543,199 shares of company stock worth $46,183,984. Corporate insiders own 12.83% of the company's stock.

Cloudflare Stock Up 3.7 %

NET traded up $3.40 on Tuesday, hitting $95.69. 1,441,645 shares of the company's stock traded hands, compared to its average volume of 3,170,773. The company's 50 day simple moving average is $86.12 and its 200-day simple moving average is $80.78. 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 one year low of $66.24 and a one year high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting 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%. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

About Cloudflare

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.