Y.D. More Investments Ltd Has $3.15 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Key Points

• Y.D. More Investments Ltd has reduced its stake in Cloudflare by 12.7%, owning 27,960 shares valued at $3.15 million as per a recent SEC filing.
• Notable institutional investors, including Fred Alger Management LLC and Invesco Ltd., have significantly increased their stakes in Cloudflare, reflecting growing interest in the company.
• Wall Street analysts have upgraded their price targets for Cloudflare, with estimates now ranging from $200.00 to $250.00, indicating strong buy sentiment in the market.

Y.D. More Investments Ltd trimmed its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 12.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,960 shares of the company's stock after selling 4,061 shares during the period. Y.D. More Investments Ltd's holdings in Cloudflare were worth $3,151,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its stake in Cloudflare by 856.3% in the fourth 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 period. Invesco Ltd. boosted its holdings in Cloudflare by 292.5% during the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after purchasing an additional 804,059 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 538,850 shares during the period. Alfreton Capital LLP acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $48,457,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Cloudflare during the 1st quarter worth approximately $39,898,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC upped their price target on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Bank of America boosted their target price on shares of Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group increased their target price on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Oppenheimer restated an "outperform" rating and issued a $200.00 price target (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, Wells Fargo & Company raised their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $186.88.

Cloudflare Trading Up 3.6%

Shares of NYSE NET opened at $215.19 on Thursday. 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 twelve month low of $74.88 and a twelve month high of $215.58. The company's fifty day moving average is $187.48 and its 200-day moving average is $151.01. The stock has a market cap of $74.59 billion, a price-to-earnings ratio of -632.91 and a beta of 1.84.

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

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 35,098 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the completion of the sale, the insider owned 6,390 shares of the company's stock, valued at $1,002,143.70. This represents a 84.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the sale, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 691,062 shares of company stock valued at $122,093,547 over the last 90 days. 10.89% of the stock is owned by company insiders.

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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