Cloudflare, Inc. (NYSE:NET) Position Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 98.7% in the 4th quarter, Holdings Channel reports. The firm owned 596 shares of the company’s stock after purchasing an additional 296 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cloudflare were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC increased its holdings in shares of Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after acquiring an additional 132 shares during the period. Quent Capital LLC increased its holdings in shares of Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares during the period. CWM LLC increased its holdings in shares of Cloudflare by 3.4% in the 3rd quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after acquiring an additional 153 shares during the period. RFG Advisory LLC increased its holdings in shares of Cloudflare by 2.9% in the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after acquiring an additional 166 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Cloudflare by 0.6% in the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after acquiring an additional 224 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 3.0 %

NYSE:NET opened at $84.10 on Friday. 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 $96.38 and a 200-day moving average of $81.78. 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 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. Equities analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price objective on the stock. KeyCorp raised their target price on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Capital One Financial initiated coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. Finally, Mizuho lowered their target price on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.08.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares in the company, valued at $17,202,674.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 216,114 shares in the company, valued at $17,202,674.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the sale, the director now owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The disclosure for this sale can be found here. Insiders sold a total of 1,110,707 shares of company stock worth $107,459,933 over the last ninety days. 14.80% of the stock is currently owned by company insiders.

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.