Baader Bank Aktiengesellschaft Buys Shares of 2,364 Cloudflare, Inc. (NYSE:NET)

Key Points

• Baader Bank Aktiengesellschaft has acquired 2,364 shares of Cloudflare, Inc. (NYSE:NET), valued at approximately $266,000, during the first quarter.
• Cloudflare's stock ratings show three analysts with sell ratings, nine with hold ratings, fifteen with buy ratings, and one with a strong buy rating, while the average target price is $161.72.
• Insider trading activity includes a notable sale by Director Carl Ledbetter of 15,000 shares for nearly $3 million, reducing his ownership by 1.42%.

Baader Bank Aktiengesellschaft acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,364 shares of the company's stock, valued at approximately $266,000.

Several other large investors have also recently made changes to their positions in the stock. CreativeOne Wealth LLC increased its stake in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after buying an additional 58 shares during the period. Spire Wealth Management increased its position in shares of Cloudflare by 11.0% in the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after purchasing an additional 95 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after purchasing an additional 98 shares during the last quarter. Ellevest Inc. increased its position in shares of Cloudflare by 2.3% in the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock valued at $489,000 after purchasing an additional 102 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Cloudflare by 19.3% in the 1st quarter. Versant Capital Management Inc now owns 655 shares of the company's stock valued at $74,000 after buying an additional 106 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NET has been the subject of a number of recent research reports. UBS Group increased their price target on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. CICC Research upgraded shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a report on Monday, May 12th. KeyCorp started coverage on shares of Cloudflare in a report on Friday, June 6th. They set an "overweight" rating and a $210.00 target price for the company. Needham & Company LLC lifted their price target on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Citigroup restated an "outperform" rating on shares of Cloudflare in a report on Monday. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.72.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $199.85, for a total transaction of $2,997,750.00. Following the sale, the director directly owned 1,043,073 shares of the company's stock, valued at $208,458,139.05. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $190.68, for a total value of $4,889,225.88. Following the completion of the transaction, the insider directly owned 6,390 shares in the company, valued at $1,218,445.20. The trade was a 80.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 688,062 shares of company stock valued at $121,498,887 over the last three months. 10.89% of the stock is owned by insiders.

Cloudflare Stock Performance

NYSE:NET opened at $207.57 on Friday. The firm has a market cap of $71.95 billion, a PE ratio of -902.48 and a beta of 1.85. Cloudflare, Inc. has a fifty-two week low of $69.26 and a fifty-two week high of $210.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. The business has a 50 day moving average price of $182.66 and a 200-day moving average price of $147.77.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

About Cloudflare

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.

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