Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 25.88MM shares of Cloudflare, Inc. Class A common stock, par value $0.001 per share (NET). This represents 9.09% of the company.
In their previous filing dated February 9, 2022 they reported 22.81MM shares and 8.33% of the company, an increase in shares of 13.48% and an increase in total ownership of 0.76% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 13.29% Upside
As of February 8, 2023, the average one-year price target for Cloudflare, Inc. , par value $0.001 per share is $65.79. The forecasts range from a low of $42.42 to a high of $119.70. The average price target represents an increase of 13.29% from its latest reported closing price of $58.07.
The projected annual revenue for Cloudflare, Inc. , par value $0.001 per share is $1,331MM, an increase of 48.86%. The projected annual EPS is $0.15.
What is the Fund Sentiment?
There are 992 funds or institutions reporting positions in Cloudflare, Inc. , par value $0.001 per share. This is a decrease of 14 owner(s) or 1.39% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.53%, an increase of 16.63%. Total shares owned by institutions increased in the last three months by 1.84% to 276,379K shares. The put/call ratio of NET is 0.74, indicating a bullish outlook.
What are large shareholders doing?
Baillie Gifford & holds 26,335K shares representing 8.01% ownership of the company. In it's prior filing, the firm reported owning 24,725K shares, representing an increase of 6.11%. The firm decreased its portfolio allocation in NET by 12.00% over the last quarter.
Sands Capital Management holds 15,956K shares representing 4.86% ownership of the company. In it's prior filing, the firm reported owning 15,644K shares, representing an increase of 1.96%. The firm increased its portfolio allocation in NET by 39.78% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 8,634K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 5,411K shares, representing an increase of 37.33%. The firm increased its portfolio allocation in NET by 27.12% over the last quarter.
Capital World Investors holds 8,069K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 10,500K shares, representing a decrease of 30.12%. The firm increased its portfolio allocation in NET by 2.68% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,011K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 7,461K shares, representing an increase of 6.86%. The firm increased its portfolio allocation in NET by 41.49% over the last quarter.
Cloudflare Background Information
(This description is provided by the company.)
Cloudflare, Inc. is on a mission to help build a better Internet. Cloudflare's platform protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine's Top Company Cultures 2018 list and ranked among the World's Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, Seattle, WA, New York, NY, San Jose, CA, Washington, D.C., Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
