Mizuho Markets Americas LLC Acquires 11,600 Shares of Cloudflare, Inc. (NYSE:NET)

Mizuho Markets Americas LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,667 shares of the company's stock after acquiring an additional 11,600 shares during the quarter. Mizuho Markets Americas LLC's holdings in Cloudflare were worth $9,437,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NET. Baillie Gifford & Co. raised its position in Cloudflare by 8.5% during the 2nd 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Cloudflare by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company's stock worth $2,766,632,000 after acquiring an additional 412,864 shares in the last quarter. Capital World Investors raised its position in shares of Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company's stock worth $2,723,685,000 after acquiring an additional 584,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cloudflare by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company's stock worth $137,616,000 after acquiring an additional 19,446 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock worth $128,265,000 after acquiring an additional 855,334 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE NET traded down $2.16 during midday trading on Friday, reaching $89.77. The company's stock had a trading volume of 3,373,466 shares, compared to its average volume of 3,178,625. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The firm has a 50 day moving average price of $86.12 and a 200-day moving average price of $80.88. The stock has a market capitalization of $30.67 billion, a P/E ratio of -345.33 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 (NYSE:NET - Get Free Report) last announced 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). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $15,114,520.58. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michelle Zatlyn sold 12,820 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 578,316 shares of company stock worth $49,124,681. Insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NET. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective for the company. UBS Group boosted their target price on Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their target price on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Guggenheim boosted their target price on Cloudflare from $50.00 to $57.00 and gave the company a "sell" rating in a research report on Friday, August 2nd. Finally, Susquehanna boosted their target price on Cloudflare from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.88.

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.