National Pension Service Has $132.76 Million Stock Holdings in Cloudflare, Inc. $NET

National Pension Service boosted its position in Cloudflare, Inc. (NYSE:NET) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 618,662 shares of the company’s stock after acquiring an additional 5,939 shares during the quarter. National Pension Service owned 0.18% of Cloudflare worth $132,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Reliant Investment Partners LLC increased its stake in shares of Cloudflare by 1.5% in the 3rd quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock valued at $718,000 after purchasing an additional 50 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in Cloudflare by 1.1% in the second quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock valued at $892,000 after buying an additional 51 shares in the last quarter. Huntington National Bank grew its position in Cloudflare by 22.8% in the second quarter. Huntington National Bank now owns 280 shares of the company’s stock valued at $55,000 after acquiring an additional 52 shares during the last quarter. Fiduciary Planning LLC lifted its holdings in shares of Cloudflare by 3.0% in the second quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after acquiring an additional 54 shares during the last quarter. Finally, Bogart Wealth LLC boosted its stake in shares of Cloudflare by 28.0% in the 3rd quarter. Bogart Wealth LLC now owns 270 shares of the company’s stock valued at $58,000 after purchasing an additional 59 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $177.23 on Friday. The stock has a market cap of $62.08 billion, a price-to-earnings ratio of -590.77, a P/E/G ratio of 156.36 and a beta of 1.96. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company’s fifty day moving average is $194.53 and its 200 day moving average is $205.94. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, October 30th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $562.03 million for the quarter, compared to the consensus estimate of $544.65 million. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The business’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 41,555 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $194.18, for a total value of $8,069,149.90. Following the transaction, the chief financial officer owned 137,486 shares in the company, valued at approximately $26,697,031.48. The trade was a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $199.26, for a total transaction of $6,993,826.74. Following the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $4,892,829.30. This trade represents a 58.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 634,213 shares of company stock valued at $125,537,644 over the last ninety days. 10.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NET shares. KeyCorp upped their price objective on shares of Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $225.00 target price on shares of Cloudflare in a research note on Tuesday, December 16th. Wolfe Research reiterated a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. JMP Securities set a $270.00 price objective on Cloudflare in a report on Friday, October 31st. Finally, DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price for the company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.