Motley Fool Asset Management LLC Has $1.81 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Key Points

• Motley Fool Asset Management LLC increased its holdings in Cloudflare, Inc. by 217.7% during the first quarter, bringing their total ownership to 16,061 shares valued at approximately $1.81 million.
• Several institutional investors were active in Cloudflare, with SouthState Corp increasing its stake by 415.0% and Nuveen LLC acquiring a significant new stake worth about $88.20 million.
• Cloudflare's stock received mixed ratings from analysts, with price targets ranging from $145.00 to $250.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $186.88.

Motley Fool Asset Management LLC increased its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 217.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,061 shares of the company's stock after purchasing an additional 11,006 shares during the quarter. Motley Fool Asset Management LLC's holdings in Cloudflare were worth $1,810,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its holdings in Cloudflare by 0.7% in the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after acquiring an additional 260,415 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after acquiring an additional 538,850 shares during the last quarter. Northern Trust Corp lifted its holdings in Cloudflare by 13.5% in the 4th quarter. Northern Trust Corp now owns 1,849,143 shares of the company's stock valued at $199,116,000 after acquiring an additional 219,764 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock valued at $148,887,000 after acquiring an additional 99,448 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in Cloudflare by 856.3% in the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after acquiring an additional 836,591 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Ratings Changes

NET has been the subject of a number of research analyst reports. Guggenheim upped their price target on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a report on Friday, August 1st. Robert W. Baird upped their price objective on shares of Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Morgan Stanley raised their target price on shares of Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC upped their price target on shares of Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Oppenheimer reiterated an "outperform" rating and set a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $186.88.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $190.68, for a total value of $4,889,225.88. Following the transaction, the insider directly owned 6,390 shares of the company's stock, valued at approximately $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 have sold a total of 586,294 shares of company stock valued at $106,298,200 over the last 90 days. Company insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of Cloudflare stock traded down $4.16 on Thursday, reaching $195.18. The stock had a trading volume of 2,534,555 shares, compared to its average volume of 3,667,604. The business's 50-day moving average price is $190.94 and its two-hundred day moving average price is $153.83. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. The stock has a market cap of $68.02 billion, a P/E ratio of -574.07 and a beta of 1.84.

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 the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare Company 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.