Towarzystwo Funduszy Inwestycyjnych PZU SA Sells 14,305 Shares of Cloudflare, Inc. $NET

Towarzystwo Funduszy Inwestycyjnych PZU SA lowered its stake in shares of Cloudflare, Inc. (NYSE:NET) by 72.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,345 shares of the company’s stock after selling 14,305 shares during the quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA’s holdings in Cloudflare were worth $1,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. raised its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Cloudflare in the second quarter worth $29,000. ORG Wealth Partners LLC raised its stake in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new position in Cloudflare in the third quarter valued at about $31,000. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $173.35, for a total transaction of $436,842.00. Following the sale, the director owned 495,191 shares of the company’s stock, valued at approximately $85,841,359.85. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider owned 34,514 shares of the company’s stock, valued at $6,540,403. This trade represents a 42.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 526,210 shares of company stock valued at $97,324,213. Corporate insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Barclays boosted their target price on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, February 13th. Robert W. Baird set a $260.00 price objective on shares of Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $224.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Cloudflare Stock Up 0.2%

NET stock opened at $212.46 on Friday. The stock has a market capitalization of $74.42 billion, a P/E ratio of -732.59 and a beta of 1.98. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The firm has a 50-day moving average price of $185.42 and a 200-day moving average price of $202.99.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.