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Charles Schwab Investment Management Inc. Buys 99,448 Shares of Cloudflare, Inc. (NYSE:NET)

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Charles Schwab Investment Management Inc. raised its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,321,208 shares of the company's stock after purchasing an additional 99,448 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.38% of Cloudflare worth $148,887,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NET. Mather Group LLC. lifted its stake in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Cloudflare in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the 4th quarter valued at $43,000. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,382,465. This trade represents a 19.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle Zatlyn sold 35,098 shares of Cloudflare stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the transaction, the insider directly owned 6,390 shares in the company, valued at approximately $1,002,143.70. This represents a 84.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 586,294 shares of company stock worth $106,298,200 in the last quarter. 10.89% of the stock is owned by corporate insiders.

Cloudflare Stock Down 2.1%

NET stock traded down $4.16 during mid-day trading on Thursday, reaching $195.18. 2,022,715 shares of the company traded hands, compared to its average volume of 3,662,837. The stock has a market cap of $68.02 billion, a price-to-earnings ratio of -574.07 and a beta of 1.84. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. The firm's 50 day moving average price is $190.94 and its 200 day moving average price is $153.83.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 8.42% and a negative net margin of 6.22%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NET. Cantor Fitzgerald increased their price target on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their target price on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Wells Fargo & Company raised their target price on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, KeyCorp raised their target price on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $186.88.

Check Out Our Latest Stock Analysis on Cloudflare

Cloudflare Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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