Livforsakringsbolaget Skandia Omsesidigt Purchases New Shares in Cloudflare, Inc. (NYSE:NET)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $122,000.

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Cloudflare in the fourth quarter valued at about $33,000. Huntington National Bank acquired a new position in shares of Cloudflare in the fourth quarter valued at about $34,000. Eudaimonia Partners LLC acquired a new position in shares of Cloudflare in the fourth quarter valued at about $38,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Cloudflare in the fourth quarter valued at about $42,000. Finally, Invictus RG acquired a new position in shares of Cloudflare in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 54.76% of the company’s stock.

Shares of NYSE NET opened at $70.05 on Thursday. The company has a market capitalization of $21.63 billion, a P/E ratio of -179.61 and a beta of -0.02. Cloudflare, Inc. has a 52-week low of $21.18 and a 52-week high of $95.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 8.61 and a current ratio of 8.61. The company’s 50 day moving average price is $72.89 and its 200-day moving average price is $69.74.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Wednesday, February 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The firm had revenue of $125.93 million for the quarter, compared to the consensus estimate of $118.22 million. Cloudflare had a negative net margin of 29.17% and a negative return on equity of 12.16%. Analysts forecast that Cloudflare, Inc. will post -0.31 earnings per share for the current year.

In related news, CFO Thomas J. Seifert sold 118,832 shares of the business’s stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $83.42, for a total transaction of $9,912,965.44. Also, COO Michelle Zatlyn sold 48,700 shares of the business’s stock in a transaction on Wednesday, January 13th. The shares were sold at an average price of $81.08, for a total transaction of $3,948,596.00. The disclosure for this sale can be found here. Insiders sold a total of 788,620 shares of company stock worth $61,598,563 in the last 90 days. Corporate insiders own 35.89% of the company’s stock.

NET has been the topic of several research reports. Needham & Company LLC upped their price target on shares of Cloudflare from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 12th. Truist Securities upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $110.00 in a research note on Tuesday, March 30th. Royal Bank of Canada increased their price objective on shares of Cloudflare from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Truist Financial upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Tuesday, March 23rd. Finally, Jefferies Financial Group increased their price objective on shares of Cloudflare from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 12th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $72.17.

About Cloudflare

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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