Cloudflare, Inc. (NYSE:NET) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 70.5% in the first quarter, HoldingsChannel reports. The firm owned 10,241 shares of the company’s stock after buying an additional 4,235 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cloudflare were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cloudflare in the 4th quarter valued at about $221,858,000. 1832 Asset Management L.P. lifted its holdings in Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after acquiring an additional 1,597,900 shares during the period. Vanguard Group Inc. lifted its holdings in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after acquiring an additional 740,914 shares during the period. Capital World Investors grew its stake in shares of Cloudflare by 1.8% during the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after purchasing an additional 487,308 shares during the period. Finally, SpiderRock Advisors LLC purchased a new position in shares of Cloudflare during the 1st quarter valued at approximately $37,740,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $85.28, for a total transaction of $2,186,579.20. Following the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $18,027,680.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total transaction of $2,186,579.20. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at $18,027,680.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $95.29, for a total transaction of $4,991,671.36. Following the completion of the sale, the chief executive officer now directly owns 230,612 shares in the company, valued at $21,975,017.48. The disclosure for this sale can be found here. Insiders sold a total of 724,487 shares of company stock worth $57,429,128 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 2.9 %

NET stock traded down $2.42 during trading on Wednesday, reaching $80.16. 970,326 shares of the stock were exchanged, compared to its average volume of 3,660,052. The firm has a market capitalization of $27.24 billion, a price-to-earnings ratio of -155.79 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average price of $76.50 and a 200-day moving average price of $85.45. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. On average, research analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Cloudflare in a report on Friday, May 31st. Royal Bank of Canada lowered their target price on shares of Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price target on shares of Cloudflare in a report on Tuesday, May 14th. KeyCorp lowered their price target on Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Cloudflare in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.71.

Cloudflare Profile

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.