Brooklyn Investment Group Takes $106,000 Position in Cloudflare, Inc. (NYSE:NET)

Brooklyn Investment Group acquired a new position in Cloudflare, Inc. (NYSE:NET) during the third quarter, Holdings Channel.com reports. The firm acquired 1,314 shares of the company’s stock, valued at approximately $106,000.

Several other institutional investors have also recently made changes to their positions in NET. Allspring Global Investments Holdings LLC grew its position in Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the period. Elo Mutual Pension Insurance Co grew its position in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after acquiring an additional 136 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Cloudflare by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after purchasing an additional 137 shares in the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Finally, Forum Financial Management LP lifted its holdings in Cloudflare by 6.1% during the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 2.8 %

Cloudflare stock opened at $99.38 on Thursday. The firm has a market capitalization of $34.11 billion, a P/E ratio of -382.23 and a beta of 1.10. 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 twelve month low of $66.24 and a twelve month high of $116.00. The stock’s fifty day simple moving average is $89.15 and its 200-day simple moving average is $81.98.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on NET shares. BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim upped their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Finally, Mizuho raised their target price on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.88.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $17,372,001.96. This represents a 12.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $76.55, for a total value of $4,009,995.20. Following the sale, the chief executive officer now owns 10,761 shares of the company’s stock, valued at approximately $823,754.55. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 606,952 shares of company stock worth $53,078,202 in the last 90 days. Corporate 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.