Banco Bilbao Vizcaya Argentaria S.A. Cuts Stock Holdings in Cloudflare, Inc. $NET

Banco Bilbao Vizcaya Argentaria S.A. reduced its position in Cloudflare, Inc. (NYSE:NET) by 51.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,237 shares of the company’s stock after selling 10,810 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Cloudflare were worth $2,002,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Quaker Wealth Management LLC raised its stake in shares of Cloudflare by 218.6% in the second quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock worth $33,000 after purchasing an additional 306 shares during the last quarter. Hilltop National Bank bought a new stake in Cloudflare in the 2nd quarter worth about $36,000. Ameritas Advisory Services LLC purchased a new position in Cloudflare in the 2nd quarter worth about $39,000. Cullen Frost Bankers Inc. purchased a new position in Cloudflare in the 2nd quarter worth about $45,000. Finally, Whipplewood Advisors LLC lifted its stake in Cloudflare by 277.6% during the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Cloudflare from $200.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Stifel Nicolaus lifted their target price on shares of Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Susquehanna boosted their target price on shares of Cloudflare from $205.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Jefferies Financial Group assumed coverage on Cloudflare in a research note on Friday, October 31st. They issued a “hold” rating and a $250.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.35.

Insider Activity

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $250.83, for a total transaction of $632,091.60. Following the sale, the director directly owned 495,191 shares of the company’s stock, valued at $124,208,758.53. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $255.53, for a total value of $766,590.00. Following the completion of the transaction, the insider owned 129,185 shares of the company’s stock, valued at $33,010,643.05. The trade was a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 585,676 shares of company stock worth $122,718,003. 10.89% of the stock is currently owned by insiders.

Cloudflare Stock Performance

Shares of NET opened at $210.74 on Monday. The business has a 50-day simple moving average of $222.05 and a two-hundred day simple moving average of $196.05. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 52 week low of $87.77 and a 52 week high of $260.00. The stock has a market cap of $73.82 billion, a price-to-earnings ratio of -702.47 and a beta of 2.10.

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.