Zurcher Kantonalbank Zurich Cantonalbank Purchases 171 Shares of Cloudflare, Inc. (NYSE:NET)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cloudflare, Inc. (NYSE:NET) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,329 shares of the company’s stock after purchasing an additional 171 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cloudflare were worth $6,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC raised its stake in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares in the last quarter. Quarry LP raised its position in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Cloudflare during the second quarter worth about $29,000. Versant Capital Management Inc boosted its holdings in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $38,000. 82.68% of the stock is owned by institutional investors.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michelle Zatlyn sold 35,118 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $18,212,582.70. This trade represents a 16.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,952 shares of company stock worth $53,078,202. 12.83% of the stock is currently owned by company insiders.

Cloudflare Price Performance

Shares of NET stock opened at $99.83 on Monday. The firm’s 50 day moving average price is $90.25 and its two-hundred day moving average price is $82.52. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The stock has a market cap of $34.26 billion, a PE ratio of -383.96 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NET. Wells Fargo & Company boosted their price target on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group lifted their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Mizuho upped their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Scotiabank increased their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, Susquehanna boosted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.88.

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.