Capital International Sarl Acquires 3,727 Shares of Cloudflare, Inc. $NET

Capital International Sarl raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,763 shares of the company’s stock after buying an additional 3,727 shares during the quarter. Cloudflare comprises approximately 0.9% of Capital International Sarl’s holdings, making the stock its 28th largest position. Capital International Sarl owned about 0.07% of Cloudflare worth $52,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its position in shares of Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Westside Investment Management Inc. grew its stake in Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Cloudflare in the 2nd quarter valued at $29,000. ORG Wealth Partners LLC lifted its stake in Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in Cloudflare in the 3rd quarter worth $31,000. Institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the sale, the insider owned 34,514 shares in the company, valued at approximately $6,540,403. This represents a 42.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,557 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $185.04, for a total value of $7,689,707.28. Following the completion of the sale, the chief financial officer owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. This represents a 32.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 551,851 shares of company stock worth $102,673,182. 10.89% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

Cloudflare stock opened at $201.59 on Tuesday. The company’s 50-day moving average price is $184.32 and its 200-day moving average price is $202.65. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The company has a market cap of $70.61 billion, a PE ratio of -695.11 and a beta of 1.98. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NET. Wells Fargo & Company raised their price objective on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. New Street Research set a $140.00 target price on Cloudflare in a research report on Wednesday, February 11th. Mizuho dropped their price target on Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. BTIG Research raised their price target on Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Needham & Company LLC reduced their price objective on Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.70.

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.