Sava Infond d.o.o. Buys Shares of 600 Cloudflare, Inc. (NYSE:NET)

Sava Infond d.o.o. purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, Holdings Channel.com reports. The firm purchased 600 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth $54,000. Cerity Partners LLC raised its holdings in Cloudflare by 306.4% during the third quarter. Cerity Partners LLC now owns 18,416 shares of the company’s stock worth $1,490,000 after purchasing an additional 13,885 shares in the last quarter. Swedbank AB lifted its position in Cloudflare by 128.6% in the third quarter. Swedbank AB now owns 18,941 shares of the company’s stock valued at $1,532,000 after purchasing an additional 10,656 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Cloudflare by 11.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,752 shares of the company’s stock valued at $1,840,000 after purchasing an additional 2,300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Cloudflare by 5.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,308 shares of the company’s stock worth $1,157,000 after purchasing an additional 734 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 618,046 shares of company stock worth $80,142,792 in the last three months. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 2.1 %

NET stock opened at $118.62 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The stock has a market capitalization of $40.93 billion, a P/E ratio of -539.17 and a beta of 1.27. The company has a 50 day moving average price of $137.52 and a two-hundred day moving average price of $111.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cantor Fitzgerald raised their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Piper Sandler reduced their price objective on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Guggenheim upped their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $135.64.

About Cloudflare

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.