J. Safra Sarasin Holding AG Makes New $736,000 Investment in Cloudflare, Inc. $NET

J. Safra Sarasin Holding AG purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,731 shares of the company’s stock, valued at approximately $736,000.

Several other institutional investors also recently modified their holdings of NET. Physician Wealth Advisors Inc. increased its stake in shares of Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Cloudflare during the third quarter valued at approximately $26,000. Westside Investment Management Inc. boosted its position in shares of Cloudflare by 100.0% in 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. ORG Wealth Partners LLC grew its stake in shares of Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after buying an additional 70 shares during the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Cloudflare in the 3rd quarter worth approximately $30,000. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NET. New Street Research set a $140.00 price objective on Cloudflare in a research note on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, January 21st. UBS Group restated a “neutral” rating and set a $220.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, Citigroup upped their price target on shares of Cloudflare from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Cloudflare Stock Performance

NET stock opened at $211.30 on Friday. The stock’s 50 day simple moving average is $192.63 and its 200 day simple moving average is $202.89. 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 stock has a market capitalization of $74.37 billion, a PE ratio of -728.58 and a beta of 1.87.

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

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark J. Hawkins sold 133 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $209.60, for a total transaction of $27,876.80. Following the transaction, the director directly owned 10,322 shares of the company’s stock, valued at $2,163,491.20. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 632,901 shares of company stock worth $120,754,306 in the last three months. 10.89% of the stock is currently owned by company insiders.

Cloudflare Profile

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.