Cloudflare, Inc. (NYSE:NET) Shares Bought by Slow Capital Inc.

Slow Capital Inc. increased its holdings in Cloudflare, Inc. (NYSE:NET) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,389 shares of the company’s stock after acquiring an additional 787 shares during the quarter. Cloudflare makes up 0.8% of Slow Capital Inc.’s portfolio, making the stock its 25th biggest position. Slow Capital Inc.’s holdings in Cloudflare were worth $5,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NET. Atomi Financial Group Inc. boosted its stake in shares of Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after buying an additional 94 shares during the last quarter. Wealth Management Partners LLC grew its holdings in Cloudflare by 3.3% during the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after acquiring an additional 114 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Quarry LP lifted its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Cloudflare by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NET. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Mizuho boosted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada raised their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.92.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This represents a 21.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $21,403,676.25. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 641,132 shares of company stock worth $69,429,058 in the last quarter. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Performance

Shares of NET opened at $126.58 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm’s 50 day moving average is $111.39 and its 200-day moving average is $93.18. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $130.65. The stock has a market capitalization of $43.44 billion, a P/E ratio of -486.86 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

About Cloudflare

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.