Slow Capital Inc. Takes $4.26 Million Position in Cloudflare, Inc. (NYSE:NET)

Slow Capital Inc. acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 52,602 shares of the company’s stock, valued at approximately $4,255,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of Cloudflare in the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP raised its holdings in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare in the second quarter valued at approximately $29,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NET shares. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday. BNP Paribas started coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price for the company. Cantor Fitzgerald raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. 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. Finally, Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. 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 company. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $91.72.

Cloudflare Stock Up 0.4 %

NET stock opened at $90.80 on Friday. The company has a market cap of $30.85 billion, a PE ratio of -171.32 and a beta of 1.10. The business has a 50-day simple moving average of $82.39 and a 200 day simple moving average of $81.01. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. Cloudflare’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $76.55, for a total value of $4,009,995.20. Following the sale, the chief executive officer now owns 10,761 shares in the company, valued at approximately $823,754.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 507,552 shares of company stock valued at $41,631,505. 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.