Cloudflare, Inc. (NYSE:NET) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in Cloudflare, Inc. (NYSE:NET) by 98.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 596 shares of the company’s stock after purchasing an additional 296 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cloudflare were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after purchasing an additional 65,596 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $569,000. International Assets Investment Management LLC purchased a new stake in shares of Cloudflare in the 4th quarter valued at approximately $11,639,000. Blueshift Asset Management LLC increased its position in shares of Cloudflare by 100.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier increased its position in shares of Cloudflare by 4.5% in the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after purchasing an additional 17,600 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Down 3.0 %

NET stock opened at $84.10 on Friday. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The company has a fifty day moving average of $96.38 and a 200-day moving average of $81.78.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Research analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares in the company, valued at approximately $29,453,572.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares in the company, valued at $127,968,332.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,110,707 shares of company stock worth $107,459,933. Company insiders own 14.80% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of a number of recent analyst reports. JMP Securities increased their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company increased their target price on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Capital One Financial began coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.08.

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.