SpiderRock Advisors LLC Has $32.27 Million Position in Cloudflare, Inc. (NYSE:NET)

SpiderRock Advisors LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.0% in the third quarter, Holdings Channel reports. The institutional investor owned 398,954 shares of the company’s stock after purchasing an additional 170 shares during the period. Cloudflare accounts for approximately 0.5% of SpiderRock Advisors LLC’s holdings, making the stock its 16th biggest position. SpiderRock Advisors LLC’s holdings in Cloudflare were worth $32,271,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its stake in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after acquiring an additional 2,575,396 shares during the period. Vanguard Group Inc. grew its stake in Cloudflare by 1.5% during the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after buying an additional 412,864 shares during the last quarter. Capital World Investors grew its stake in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after buying an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after buying an additional 19,446 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 3,495 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the completion of the transaction, the chief accounting officer now directly owns 80,183 shares in the company, valued at approximately $6,546,941.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Janel Riley sold 3,495 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the sale, the chief accounting officer now directly owns 80,183 shares in the company, valued at $6,546,941.95. 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, COO Michelle Zatlyn sold 35,117 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $83.74, for a total transaction of $2,940,697.58. Following the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $16,092,901.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,043 shares of company stock worth $39,737,342. 12.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on NET. BNP Paribas assumed coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Scotiabank upped 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. Cantor Fitzgerald upped their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Robert W. Baird upped their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price 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. Four research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.88.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $91.30 on Friday. The company has a 50 day moving average of $84.77 and a 200-day moving average of $80.74. Cloudflare, Inc. has a 1-year low of $61.34 and a 1-year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market cap of $31.20 billion, a PE ratio of -314.83 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

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.