Meitav Investment House Ltd. Has $950,000 Stake in Cloudflare, Inc. (NYSE:NET)

Meitav Investment House Ltd. raised its stake in Cloudflare, Inc. (NYSE:NET) by 46.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,900 shares of the company’s stock after buying an additional 3,800 shares during the period. Meitav Investment House Ltd.’s holdings in Cloudflare were worth $950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NET. Wealth Enhancement Advisory Services LLC raised its holdings in Cloudflare by 5.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,126 shares of the company’s stock valued at $2,046,000 after buying an additional 1,163 shares during the last quarter. Diversified Trust Co grew its stake in shares of Cloudflare by 52.8% in the first quarter. Diversified Trust Co now owns 5,337 shares of the company’s stock worth $517,000 after purchasing an additional 1,845 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Kovack Advisors Inc. raised its position in Cloudflare by 6.9% during the 1st quarter. Kovack Advisors Inc. now owns 3,240 shares of the company’s stock worth $314,000 after purchasing an additional 210 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Cloudflare during the 1st quarter worth about $295,000. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company. Piper Sandler raised their price target on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Scotiabank assumed coverage on shares of Cloudflare in a research note on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price for the company. Finally, Mizuho upped their price target on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four research 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, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $91.72.

Cloudflare Trading Down 1.6 %

NET opened at $88.37 on Thursday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The firm has a market capitalization of $30.20 billion, a PE ratio of -169.51 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The company’s 50-day moving average is $83.43 and its 200 day moving average is $80.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. As a group, research analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $15,114,520.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $78.71, for a total value of $1,180,650.00. Following the sale, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at $24,395,141.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 519,552 shares of company stock worth $42,763,195. 12.83% of the stock is owned by corporate 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.