Migdal Insurance & Financial Holdings Ltd. Has $1.94 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,960 shares of the company’s stock after selling 540 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cloudflare were worth $1,938,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. National Pension Service grew its stake in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Cloudflare during the 2nd quarter worth $7,319,000. Price T Rowe Associates Inc. MD increased its holdings in Cloudflare by 20.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after purchasing an additional 149,866 shares in the last quarter. Swiss National Bank raised its position in Cloudflare by 2.0% in the first quarter. Swiss National Bank now owns 886,900 shares of the company’s stock valued at $85,879,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Cloudflare by 19.9% during the first quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after purchasing an additional 4,733 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the completion of the sale, the chief executive officer now owns 10,761 shares in the company, valued at $1,010,995.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at $15,681,643.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the sale, the chief executive officer now directly owns 10,761 shares of the company’s stock, valued at approximately $1,010,995.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock worth $39,737,342 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Down 4.6 %

NET traded down $4.41 during trading on Friday, hitting $91.25. 7,777,228 shares of the company’s stock were exchanged, compared to its average volume of 2,373,076. Cloudflare, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $116.00. The stock has a market cap of $31.18 billion, a P/E ratio of -350.96 and a beta of 1.10. The business’s 50 day moving average is $84.77 and its two-hundred day moving average is $80.69. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. As a group, equities analysts expect that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research reports. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group upped their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $92.88.

Cloudflare Company 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.