Tredje AP fonden Has $2.58 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Tredje AP fonden decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,961 shares of the company’s stock after selling 23,960 shares during the quarter. Tredje AP fonden’s holdings in Cloudflare were worth $2,580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Stratos Wealth Partners LTD. raised its position in Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in Cloudflare by 3.3% in 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. Chicago Partners Investment Group LLC boosted its position in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after buying an additional 105 shares during the period. D.A. Davidson & CO. grew its holdings in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares during the last quarter. Finally, Amalgamated Bank increased its position in Cloudflare by 0.5% in the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after acquiring an additional 107 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $113.38 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $136.44 and a two-hundred day simple moving average of $108.28. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The firm has a market capitalization of $39.12 billion, a PE ratio of -515.35 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company upped their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Royal Bank of Canada decreased their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday. Cantor Fitzgerald lifted their price objective on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $130.92.

Insider Activity

In other news, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 571,766 shares of company stock worth $73,804,307 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

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.