Cloudflare, Inc. $NET Shares Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA increased its holdings in Cloudflare, Inc. (NYSE:NET) by 57.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,641 shares of the company’s stock after buying an additional 30,463 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cloudflare were worth $15,080,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NET. Norges Bank purchased a new position in Cloudflare during the 2nd quarter valued at about $541,462,000. Groupama Asset Managment purchased a new stake in shares of Cloudflare in the second quarter valued at about $225,204,000. Vanguard Group Inc. lifted its holdings in shares of Cloudflare by 2.6% in the third quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after purchasing an additional 821,684 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $138,660,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Cloudflare by 96.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after purchasing an additional 639,245 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

Cloudflare stock opened at $222.27 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $77.86 billion, a P/E ratio of -766.42 and a beta of 1.98. The firm has a fifty day moving average of $187.04 and a 200-day moving average of $203.27. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. As a group, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. Scotiabank cut their price objective on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 11th. New Street Research set a $140.00 price target on Cloudflare in a research report on Wednesday, February 11th. Barclays upped their price objective on Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on Cloudflare in a research report on Tuesday, January 20th. Finally, Mizuho reduced their target price on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 13,618 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $227.80, for a total value of $3,102,180.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 10,341 shares of Cloudflare stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $212.30, for a total transaction of $2,195,394.30. Following the sale, the chief financial officer owned 224,625 shares in the company, valued at $47,687,887.50. This represents a 4.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 638,799 shares of company stock worth $121,556,536 in the last ninety days. 10.89% of the stock is owned by corporate 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.