Forsta AP Fonden Reduces Stake in Cloudflare, Inc. (NYSE:NET)

Forsta AP Fonden cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,300 shares of the company’s stock after selling 1,100 shares during the period. Forsta AP Fonden’s holdings in Cloudflare were worth $6,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC increased its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP boosted its stake in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter valued at $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the third quarter valued at $54,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. Jefferies Financial Group upped their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Piper Sandler increased their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and upped their price objective for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley lifted their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $109.72.

Cloudflare Stock Performance

NET stock opened at $138.62 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $142.41. The firm has a market cap of $47.57 billion, a price-to-earnings ratio of -533.15 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a 50-day simple moving average of $114.40 and a two-hundred day simple moving average of $94.56.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. On average, equities analysts forecast that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 631,257 shares of company stock worth $68,558,258 in the last ninety days. 12.83% of the stock is owned by insiders.

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.