Swiss National Bank Purchases 10,100 Shares of Cloudflare, Inc. (NYSE:NET)

Swiss National Bank boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 893,600 shares of the company's stock after acquiring an additional 10,100 shares during the period. Swiss National Bank owned 0.26% of Cloudflare worth $72,283,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NET. Baillie Gifford & Co. boosted its stake in shares of 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 period. Marshall Wace LLP lifted its position in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock valued at $128,265,000 after purchasing an additional 855,334 shares during the period. Capital World Investors grew its position in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company's stock valued at $2,723,685,000 after buying an additional 584,566 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare in the third quarter valued at approximately $25,588,000. Finally, American Century Companies Inc. boosted its holdings in Cloudflare by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company's stock worth $115,526,000 after buying an additional 277,228 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Guggenheim lifted their price target on Cloudflare from $50.00 to $57.00 and gave the stock a "sell" rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $92.88.

Cloudflare Stock Performance

Shares of NET traded up $0.10 during mid-day trading on Wednesday, reaching $96.47. The company's stock had a trading volume of 2,338,185 shares, compared to its average volume of 3,174,584. The stock has a market cap of $33.11 billion, a P/E ratio of -370.85 and a beta of 1.10. The business has a 50-day simple moving average of $86.83 and a two-hundred day simple moving average of $80.96. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analysts' expectations of $423.65 million. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company's stock, valued at approximately $15,114,520.58. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 571,834 shares of company stock worth $48,905,168 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

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.