Capital International Sarl Has $7.36 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Capital International Sarl increased its stake in Cloudflare, Inc. (NYSE:NET) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,354 shares of the company’s stock after acquiring an additional 9,633 shares during the quarter. Capital International Sarl’s holdings in Cloudflare were worth $7,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Cloudflare in the fourth quarter worth approximately $39,000. Pingora Partners LLC acquired a new position in Cloudflare in the fourth quarter valued at approximately $42,000. Massmutual Trust Co. FSB ADV lifted its stake in Cloudflare by 1,976.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after buying an additional 514 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Cloudflare by 98.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after buying an additional 296 shares during the period. Finally, ORG Partners LLC acquired a new position in Cloudflare in the fourth quarter valued at approximately $55,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 60,863 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $74.94, for a total value of $4,561,073.22. Following the completion of the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at approximately $15,841,866.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $94.25, for a total transaction of $4,937,192.00. Following the completion of the sale, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,148,247.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michelle Zatlyn sold 60,863 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $74.94, for a total value of $4,561,073.22. Following the transaction, the chief operating officer now owns 211,394 shares in the company, valued at $15,841,866.36. The disclosure for this sale can be found here. Insiders sold 687,167 shares of company stock valued at $59,481,929 in the last quarter. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on NET. Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (down from $110.00) on shares of Cloudflare in a research note on Friday, May 3rd. Morgan Stanley boosted their price objective on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, May 7th. Truist Financial upped their price target on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, The Goldman Sachs Group dropped their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.70.

Cloudflare Trading Up 2.2 %

Shares of NYSE:NET traded up $1.48 during trading on Wednesday, hitting $69.50. The company had a trading volume of 3,145,786 shares, compared to its average volume of 3,781,357. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The company has a fifty day simple moving average of $83.01 and a two-hundred day simple moving average of $85.44. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The stock has a market cap of $23.62 billion, a price-to-earnings ratio of -128.30 and a beta of 1.08.

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

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.