Mizuho Markets Americas LLC Raises Stake in Cloudflare, Inc. (NYSE:NET)

Mizuho Markets Americas LLC raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,667 shares of the company’s stock after purchasing an additional 11,600 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Cloudflare were worth $9,437,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 595.0% during 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 in the last quarter. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the last quarter. Quarry LP raised its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cloudflare during the second quarter valued at approximately $29,000. Finally, Versant Capital Management Inc raised its position in shares of 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 buying an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NET shares. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Cantor Fitzgerald boosted their price target 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 boosted their price target 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. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.88.

Cloudflare Stock Performance

Shares of NET stock opened at $89.79 on Friday. The business’s fifty day simple moving average is $86.12 and its 200-day simple moving average is $80.88. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a market cap of $30.68 billion, a PE ratio of -345.33 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Analysts expect that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the transaction, the chief executive officer now owns 10,761 shares of the company’s stock, valued at $840,003.66. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 578,316 shares of company stock valued at $49,124,681. Company insiders own 12.83% of the company’s stock.

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.