Shares of Cloudflare, Inc. (NYSE:NET) bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Cloudflare, Inc. (NYSE:NET – Free Report) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,251,670 shares of the company’s stock after purchasing an additional 35,884 shares during the period. Bank of New York Mellon Corp’s holdings in Cloudflare were worth $103,676,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NET. International Assets Investment Management LLC acquired a new position in Cloudflare in the fourth quarter valued at about $11,639,000. Federated Hermes Inc. acquired a new stake in shares of Cloudflare during the fourth quarter valued at about $953,000. CWM LLC raised its stake in Cloudflare by 5.6% during the 4th quarter. CWM LLC now owns 4,884 shares of the company’s stock worth $407,000 after buying an additional 260 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Cloudflare in the 4th quarter valued at about $39,000. Finally, Yousif Capital Management LLC raised its stake in Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after bought another 130 shares in the last quarter. 82.68% of shares are owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Cloudflare in a research note on Tuesday, May 14th. JPMorgan Chase & Co. dropped their price target on Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TD Cowen decreased their price target on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, May 7th. Finally, UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and upped their price target for the company from $76.00 to $82.00 in a research note from Tuesday, June 25. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Cloudflare has an average rating of “Hold” and a consensus price target of $92.29, based on data from MarketBeat.

Get the latest stock analysis on Cloudflare

Insider buying and selling at Cloudflare

In other news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares in the company, valued at approximately $6,546,941.95. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.04, for a total value of $3,773,743.36. Following the completion of the transaction, the chief executive officer now directly owns 8,742 shares in the company, valued at $629,773.68. The disclosure for this sale can be found here. Insiders have sold 577,622 shares of company stock worth $45,953,444 over the last three months. Corporate insiders own 12.83% of the company’s shares.

Cloudflare stock down 0.5%

Shares of NET stock opened at $81.26 on Wednesday. The company has a quick ratio of 3.51, a current ratio of 3.51, and a debt-to-equity ratio of 1.61. The company has a 50 day moving average price of $80.46 and a two hundred day moving average price of $84.85. The company has a market cap of $27.61 billion, a price-to-earnings ratio of -153.32 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00.

Cloudflare (NYSE:NET – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.90% and a negative net margin of 6.90%. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period last year, the company earned ($0.12) earnings per share. The company’s revenue was up 30.0% over the same quarter last year. Analysts anticipate that Cloudflare, Inc. will record -0.19 EPS for the current fiscal year.

Cloudflare profile

(Free Report)

Cloudflare, Inc operates as a cloud service provider that provides a wide range of services to businesses around the world. The company provides an integrated cloud-based security solution to secure a range of platform combinations, including public cloud, private cloud, on-premise applications, software-as-a-service and IoT devices; and website and application security products, including web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products .

See Also

Want to see what other hedge funds own NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Cloudflare, Inc. (NYSE:NET – Free Report).

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