Cloudflare, Inc. (NYSE:NET) Position Boosted by Hartline Investment Corp

Hartline Investment Corp grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 7.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 260,379 shares of the company’s stock after acquiring an additional 18,426 shares during the quarter. Cloudflare comprises approximately 2.6% of Hartline Investment Corp’s holdings, making the stock its 12th largest position. Hartline Investment Corp owned approximately 0.08% of Cloudflare worth $21,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NET. RPG Investment Advisory LLC lifted its holdings in Cloudflare by 1.2% in the third quarter. RPG Investment Advisory LLC now owns 167,017 shares of the company’s stock worth $13,510,000 after purchasing an additional 2,001 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Cloudflare in the 3rd quarter worth approximately $361,000. Prime Capital Investment Advisors LLC boosted its holdings in shares of Cloudflare by 5.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after acquiring an additional 338 shares in the last quarter. Proactive Wealth Strategies LLC acquired a new position in shares of Cloudflare during the third quarter valued at approximately $940,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Cloudflare during the third quarter worth approximately $403,000. Institutional investors own 82.68% of the company’s stock.

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $24,422,966.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Janel Riley sold 3,495 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,043 shares of company stock worth $39,737,342 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NET. UBS Group increased their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price target on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Scotiabank raised their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $92.88.

Cloudflare Stock Down 2.5 %

Shares of NYSE NET opened at $90.93 on Wednesday. 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 one year low of $62.39 and a one year high of $116.00. The business has a 50-day moving average price of $85.25 and a two-hundred day moving average price of $80.70.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts expect that Cloudflare, Inc. will post -0.13 earnings per share 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.