Tredje AP fonden Boosts Holdings in Cloudflare, Inc. $NET

Tredje AP fonden lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,920 shares of the company’s stock after purchasing an additional 6,187 shares during the period. Tredje AP fonden’s holdings in Cloudflare were worth $6,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Cloudflare by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after buying an additional 821,684 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 5.1% during the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after purchasing an additional 270,227 shares in the last quarter. Norges Bank purchased a new stake in shares of Cloudflare during the second quarter worth approximately $541,462,000. Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 3.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,368,906 shares of the company’s stock valued at $268,073,000 after purchasing an additional 47,698 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Cloudflare by 96.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock valued at $279,588,000 after purchasing an additional 639,245 shares in the last quarter. Institutional investors and hedge funds 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 company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $173.35, for a total value of $436,842.00. Following the transaction, the director owned 495,191 shares of the company’s stock, valued at $85,841,359.85. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $211.16, for a total transaction of $3,167,400.00. Following the sale, the director owned 953,073 shares of the company’s stock, valued at approximately $201,250,894.68. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 403,734 shares of company stock worth $79,426,703 in the last 90 days. Insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of research reports. Susquehanna set a $190.00 target price on shares of Cloudflare in a report on Thursday, February 12th. Robert W. Baird set a $260.00 price target on shares of Cloudflare and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company increased their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Citizens Jmp set a $270.00 target price on shares of Cloudflare in a research note on Friday, October 31st. Finally, Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.70.

Cloudflare Stock Down 8.1%

Shares of NYSE NET opened at $176.99 on Friday. The company has a market capitalization of $62.00 billion, a P/E ratio of -610.29 and a beta of 1.97. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The company has a 50 day simple moving average of $188.52 and a 200-day simple moving average of $204.28. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The company had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.