WIM INVESTMENT MANAGEMENT Ltd Acquires New Holdings in Cloudflare, Inc. (NYSE:NET)

WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 316,332 shares of the company’s stock, valued at approximately $25,588,000. Cloudflare comprises about 10.8% of WIM INVESTMENT MANAGEMENT Ltd’s portfolio, making the stock its 4th largest position.

A number of other large investors have also recently added to or reduced their stakes in NET. CVA Family Office LLC grew its stake in 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 acquiring an additional 171 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 595.0% in the 1st 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Cloudflare in the 2nd quarter valued at about $29,000. Quarry LP lifted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Cloudflare by 1,202.9% in the 2nd 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. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In other news, COO Michelle Zatlyn sold 35,117 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total transaction of $2,940,697.58. Following the completion of the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $16,092,901.98. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the firm’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 transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 578,316 shares of company stock valued at $49,124,681 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Trading Down 2.3 %

NET opened at $89.77 on Friday. The firm has a 50 day moving average price of $86.12 and a 200 day moving average price of $80.83. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Mizuho upped their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird upped their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Cantor Fitzgerald upped their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.88.

Cloudflare 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.