Royal London Asset Management Ltd. Increases Holdings in Cloudflare, Inc. (NYSE:NET)

Royal London Asset Management Ltd. grew its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,901 shares of the company's stock after buying an additional 9,003 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Cloudflare were worth $9,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NET. CVA Family Office LLC boosted its position in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company's stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP boosted its position in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after acquiring an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the 3rd quarter valued at approximately $38,000. Quest Partners LLC bought a new stake in Cloudflare during the 3rd quarter valued at approximately $54,000. Finally, Blue Trust Inc. boosted its position in Cloudflare by 37,600.0% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company's stock valued at $62,000 after acquiring an additional 752 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Performance

Shares of NET stock traded up $2.50 during mid-day trading on Friday, reaching $112.96. 2,745,298 shares of the company's stock traded hands, compared to its average volume of 3,575,282. 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 $92.76 and a two-hundred day moving average price of $83.65. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $38.77 billion, a PE ratio of -434.46 and a beta of 1.10.

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 the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, research analysts forecast that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on NET. Wells Fargo & Company lifted their price objective on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. Mizuho lifted their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Morgan Stanley upgraded shares of Cloudflare from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Finally, UBS Group lifted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Hold" and an average price target of $94.40.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, 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. Insiders have sold a total of 499,184 shares of company stock worth $45,212,272 in the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare 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.