Healthcare of Ontario Pension Plan Trust Fund Buys 942 Shares of Cloudflare, Inc. (NYSE:NET)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Cloudflare, Inc. (NYSE:NET – Get Rating) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,422 shares of the company’s stock after acquiring an additional 942 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cloudflare were worth $134,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Sands Capital Management LLC increased its holdings in Cloudflare by 15.4% during the 2nd quarter. Sands Capital Management LLC now owns 15,643,953 shares of the company’s stock worth $684,423,000 after acquiring an additional 2,093,425 shares during the period. Baillie Gifford & Co. grew its holdings in Cloudflare by 2.5% in the 3rd quarter. Baillie Gifford & Co. now owns 24,725,247 shares of the company’s stock worth $1,367,553,000 after acquiring an additional 610,639 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cloudflare by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 23,358,000 shares of the company’s stock worth $2,795,953,000 after acquiring an additional 548,149 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Cloudflare by 62.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,339,500 shares of the company’s stock worth $160,338,000 after acquiring an additional 513,800 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Cloudflare by 14.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,991,913 shares of the company’s stock worth $130,897,000 after acquiring an additional 369,048 shares during the last quarter. Institutional investors own 69.97% of the company’s stock.

Cloudflare Trading Up 3.7 %

NYSE NET opened at $61.58 on Friday. The company has a current ratio of 4.74, a quick ratio of 5.35 and a debt-to-equity ratio of 2.30. Cloudflare, Inc. has a 12 month low of $37.37 and a 12 month high of $132.45. The company’s 50-day moving average price is $52.54 and its 200-day moving average price is $53.72. The stock has a market cap of $20.24 billion, a PE ratio of -102.63 and a beta of 1.03.

Cloudflare (NYSE:NET – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $274.70 million during the quarter, compared to analyst estimates of $274.29 million. Cloudflare had a negative net margin of 19.83% and a negative return on equity of 27.64%. Equities research analysts forecast that Cloudflare, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NET shares. Morgan Stanley cut their price target on shares of Cloudflare from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 24th. Piper Sandler lifted their price target on shares of Cloudflare from $46.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, February 10th. Truist Financial lifted their price target on shares of Cloudflare from $57.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 10th. Cantor Fitzgerald lifted their price target on shares of Cloudflare from $55.00 to $65.00 in a research report on Friday, February 10th. Finally, Citigroup lifted their price target on shares of Cloudflare from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.96.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $60.25, for a total transaction of $1,205,000.00. Following the completion of the transaction, the chief financial officer now directly owns 61,355 shares of the company’s stock, valued at approximately $3,696,638.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Thomas J. Seifert sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $60.25, for a total transaction of $1,205,000.00. Following the sale, the chief financial officer now owns 61,355 shares of the company’s stock, valued at approximately $3,696,638.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,209 shares of Cloudflare stock in a transaction on Friday, February 17th. The shares were sold at an average price of $64.65, for a total transaction of $983,261.85. Following the completion of the sale, the chief financial officer now directly owns 61,355 shares in the company, valued at approximately $3,966,600.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 479,839 shares of company stock valued at $24,731,790. 15.99% of the stock is owned by insiders.

About Cloudflare

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.