Handelsbanken Fonder AB Grows Stock Position in Cloudflare, Inc. (NYSE:NET)

Handelsbanken Fonder AB lifted its stake in Cloudflare, Inc. (NYSE:NET) by 30.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 122,940 shares of the company’s stock after buying an additional 28,548 shares during the period. Handelsbanken Fonder AB’s holdings in Cloudflare were worth $10,236,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NET. Massmutual Trust Co. FSB ADV grew its stake in shares of Cloudflare by 1,976.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after purchasing an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Cloudflare by 98.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Cloudflare in the fourth quarter worth about $55,000. Harvest Fund Management Co. Ltd grew its stake in shares of Cloudflare by 2,422.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Cloudflare by 49.5% in the fourth quarter. Lindbrook Capital LLC now owns 948 shares of the company’s stock worth $79,000 after purchasing an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,031 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the sale, the director now directly owns 1,454,919 shares in the company, valued at approximately $117,717,496.29. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the sale, the insider now owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl Ledbetter sold 10,031 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the sale, the director now directly owns 1,454,919 shares of the company’s stock, valued at approximately $117,717,496.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,036,341 shares of company stock worth $101,013,542. Insiders own 14.80% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $87.68 on Thursday. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a 50 day moving average of $95.72 and a 200 day moving average of $82.47. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NET shares. Susquehanna raised their target price on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Capital One Financial initiated coverage on Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. JMP Securities lifted their price objective on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research report on Tuesday, February 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.08.

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.