Forsta AP Fonden Buys 6,600 Shares of Cloudflare, Inc. (NYSE:NET)

Forsta AP Fonden lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 11.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 64,400 shares of the company's stock after acquiring an additional 6,600 shares during the period. Forsta AP Fonden's holdings in Cloudflare were worth $5,209,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC lifted its holdings in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after purchasing an additional 171 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare in the second quarter worth about $29,000. Quarry LP lifted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company's stock valued at $38,000 after acquiring an additional 421 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Activity at Cloudflare

In related news, CAO Janel Riley sold 3,495 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total transaction of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares of the company's stock, valued at approximately $6,546,941.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares of the company's stock, valued at $6,546,941.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $76.70, for a total transaction of $4,017,852.80. Following the completion of the transaction, the chief executive officer now directly owns 211,394 shares in the company, valued at approximately $16,213,919.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 522,552 shares of company stock valued at $42,994,705. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Up 1.9 %

NET traded up $1.63 during midday trading on Tuesday, hitting $89.57. 1,440,589 shares of the company's stock traded hands, compared to its average volume of 3,148,155. The company has a market cap of $30.61 billion, a PE ratio of -168.00 and a beta of 1.10. The stock's fifty day simple moving average is $83.28 and its 200-day simple moving average is $80.54. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company's revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) earnings per share. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. Piper Sandler upped their price target on shares of Cloudflare from $82.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $135.00 price target on shares of Cloudflare in a report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Cloudflare from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Scotiabank began coverage on shares of Cloudflare in a report on Monday, July 8th. They issued a "sector perform" rating and a $85.00 price target for the company. Finally, BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price target for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $91.72.

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.