Capital International Inc. CA Buys 17,949 Shares of Cloudflare, Inc. (NYSE:NET)

Capital International Inc. CA grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 29.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,628 shares of the company’s stock after acquiring an additional 17,949 shares during the quarter. Capital International Inc. CA’s holdings in Cloudflare were worth $7,710,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in 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 buying an additional 412,864 shares in the last quarter. Capital World Investors lifted its position in shares of Cloudflare by 1.8% during the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after buying an additional 487,308 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Cloudflare by 121.2% in the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after purchasing an additional 1,597,900 shares during the period. Norges Bank bought a new position in Cloudflare in the 4th quarter worth approximately $221,858,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cloudflare by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,682 shares of the company’s stock worth $85,815,000 after purchasing an additional 47,175 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Cloudflare stock traded up $0.04 during mid-day trading on Friday, reaching $78.08. 1,931,677 shares of the company were exchanged, compared to its average volume of 3,566,308. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The firm’s 50-day simple moving average is $77.53 and its two-hundred day simple moving average is $85.30. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a market cap of $26.53 billion, a PE ratio of -147.28 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NET. Guggenheim reiterated a “sell” rating and set a $50.00 target price on shares of Cloudflare in a research report on Tuesday, June 25th. KeyCorp decreased their price target on Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 target price on shares of Cloudflare in a research note on Friday, June 21st. TD Cowen reduced their target price on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a research note on Tuesday, May 14th. Three equities research 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. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $90.92.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $88.12, for a total value of $264,360.00. Following the completion of the transaction, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $18,085,572.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Monday, May 6th. The stock was sold at an average price of $74.67, for a total value of $3,911,513.28. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at $17,219,798.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $88.12, for a total value of $264,360.00. Following the completion of the transaction, the insider now directly owns 205,238 shares in the company, valued at $18,085,572.56. The disclosure for this sale can be found here. Insiders sold 714,232 shares of company stock valued at $55,423,126 in 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.