Blair William & Co. IL Purchases 15,726 Shares of Cloudflare, Inc. (NYSE:NET)

Key Points

• Blair William & Co. IL significantly increased its holdings in Cloudflare, Inc. by 321% in the 1st quarter, now owning 20,625 shares valued at approximately $2.32 million.
• Analysts have raised their price targets for Cloudflare recently, with KeyCorp setting a new target of $235.00, indicating strong growth expectations despite the mixed ratings from several analysts.
• The company's shares have seen a 2.8% decline recently; however, they reported a quarterly revenue increase of 27.8% year-over-year, reaching $512.32 million.

Blair William & Co. IL lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 321.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,625 shares of the company's stock after buying an additional 15,726 shares during the period. Blair William & Co. IL's holdings in Cloudflare were worth $2,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC grew its holdings in shares of Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock valued at $752,000 after buying an additional 58 shares in the last quarter. Spire Wealth Management grew its stake in Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after purchasing an additional 95 shares in the last quarter. Yousif Capital Management LLC grew its stake in Cloudflare by 2.5% in the first 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 in the last quarter. Ellevest Inc. grew its stake in Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock valued at $489,000 after purchasing an additional 102 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Cloudflare by 19.3% in the first quarter. Versant Capital Management Inc now owns 655 shares of the company's stock valued at $74,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on NET shares. Stifel Nicolaus boosted their target price on Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Scotiabank boosted their price target on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a research report on Monday, May 12th. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, DZ Bank reaffirmed a "sell" rating and issued a $170.00 price target on shares of Cloudflare in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $186.88.

Cloudflare Price Performance

NET stock traded up $0.92 during trading on Tuesday, hitting $202.09. The company had a trading volume of 2,235,770 shares, compared to its average volume of 3,680,919. The company has a fifty day moving average price of $189.78 and a two-hundred day moving average price of $153.17. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The company has a market cap of $70.42 billion, a P/E ratio of -594.38 and a beta of 1.84. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%. Cloudflare's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 34,270 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the sale, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $198.22, for a total value of $594,660.00. Following the sale, the insider owned 157,377 shares in the company, valued at approximately $31,195,268.94. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 638,678 shares of company stock worth $114,296,189 over the last 90 days. Company insiders own 10.89% of the company's stock.

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.