Aberdeen Group plc Acquires 4,798 Shares of Cloudflare, Inc. $NET

Aberdeen Group plc raised its position in Cloudflare, Inc. (NYSE:NET) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,501 shares of the company’s stock after acquiring an additional 4,798 shares during the period. Aberdeen Group plc owned about 0.05% of Cloudflare worth $38,142,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. increased its holdings in shares of Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare during the second quarter worth $29,000. ORG Wealth Partners LLC grew its stake in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Cloudflare in the 3rd quarter valued at about $31,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays raised their price objective on shares of Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on Cloudflare in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Finally, Piper Sandler increased their price objective on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.11.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $199.26, for a total transaction of $6,993,826.74. Following the completion of the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $4,892,829.30. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $201.23, for a total transaction of $10,541,232.32. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 562,475 shares of company stock valued at $110,342,859. 10.89% of the stock is owned by company insiders.

Cloudflare Price Performance

Shares of NET opened at $196.00 on Tuesday. The stock has a market cap of $68.66 billion, a PE ratio of -675.84 and a beta of 1.97. The firm’s 50-day simple moving average is $190.07 and its two-hundred day simple moving average is $204.75. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. Cloudflare’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.