Cloudflare, Inc. $NET Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 2.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 31,495,565 shares of the company’s stock after acquiring an additional 658,656 shares during the period. Vanguard Group Inc. owned about 9.04% of Cloudflare worth $6,167,776,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Cloudflare by 5.1% during the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after purchasing an additional 270,227 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock valued at $352,610,000 after purchasing an additional 786,063 shares during the period. American Century Companies Inc. increased its stake in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Northern Trust Corp raised its holdings in Cloudflare by 1.7% during the 1st quarter. Northern Trust Corp now owns 1,880,888 shares of the company’s stock worth $211,957,000 after buying an additional 31,745 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cloudflare by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock worth $148,887,000 after buying an additional 99,448 shares during the period. 82.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 35,100 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the completion of the sale, the insider directly owned 14,575 shares of the company’s stock, valued at $2,794,173.25. This trade represents a 70.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $226.46, for a total value of $11,862,880.64. The disclosure for this sale is available in the SEC filing. Insiders sold 510,225 shares of company stock worth $108,621,381 over the last ninety days. 10.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NET shares. Susquehanna raised their target price on shares of Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Mizuho upped their price target on shares of Cloudflare from $240.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Royal Bank Of Canada raised their price objective on shares of Cloudflare from $250.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Robert W. Baird set a $220.00 price objective on shares of Cloudflare in a research report on Friday, October 31st. Finally, UBS Group boosted their target price on shares of Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.35.

Cloudflare Stock Down 2.8%

Cloudflare stock opened at $196.54 on Wednesday. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $68.85 billion, a PE ratio of -655.15 and a beta of 2.10. The firm’s 50 day moving average price is $221.30 and its two-hundred day moving average price is $197.12.

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.