Tredje AP fonden Cuts Stake in Cloudflare, Inc. (NYSE:NET)

Tredje AP fonden lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 50.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,961 shares of the company’s stock after selling 23,960 shares during the quarter. Tredje AP fonden’s holdings in Cloudflare were worth $2,580,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in NET. Geode Capital Management LLC grew its position in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the period. Bank of New York Mellon Corp lifted its stake in Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after purchasing an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after purchasing an additional 63,945 shares during the period. Swiss National Bank increased its position in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in shares of Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after buying an additional 2,483 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 5.0 %

NET opened at $113.38 on Friday. The business’s fifty day simple moving average is $136.44 and its 200 day simple moving average is $108.28. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $39.12 billion, a PE ratio of -515.35 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,216,106. This trade represents a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 571,766 shares of company stock worth $73,804,307. 12.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NET shares. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price target on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $130.92.

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.