WIM INVESTMENT MANAGEMENT Ltd Buys Shares of 316,332 Cloudflare, Inc. (NYSE:NET)

WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 316,332 shares of the company's stock, valued at approximately $25,588,000. Cloudflare accounts for 10.8% of WIM INVESTMENT MANAGEMENT Ltd's holdings, making the stock its 4th biggest position. WIM INVESTMENT MANAGEMENT Ltd owned approximately 0.09% of Cloudflare at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CVA Family Office LLC grew its holdings 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 purchasing an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare during the 2nd quarter worth approximately $29,000. Quarry LP lifted its stake in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after buying an additional 146 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company's stock valued at $38,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $21,963,504.15. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 578,316 shares of company stock valued at $49,124,681 in the last three months. Corporate insiders own 12.83% of the company's stock.

Cloudflare Price Performance

Shares of NYSE NET traded down $2.16 during midday trading on Friday, reaching $89.77. 3,373,466 shares of the company traded hands, compared to its average volume of 2,876,060. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00. 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 stock's 50-day simple moving average is $86.12 and its 200-day simple moving average is $80.83. The firm has a market cap of $30.67 billion, a PE ratio of -345.27 and a beta of 1.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm 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%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. Robert W. Baird increased their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Guggenheim upped their target price on Cloudflare from $50.00 to $57.00 and gave the stock a "sell" rating in a research report on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and a consensus target price of $92.88.

Cloudflare Company 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.