Handelsbanken Fonder AB Has $19.97 Million Stake in Cloudflare, Inc. (NYSE:NET)

Handelsbanken Fonder AB grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 185,416 shares of the company’s stock after buying an additional 2,204 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cloudflare were worth $19,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NET. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. International Assets Investment Management LLC bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $147,160,000. Parnassus Investments LLC lifted its position in shares of Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after buying an additional 131,319 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares in the last quarter. Finally, Generate Investment Management Ltd bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $12,946,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $17,372,001.96. This trade represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 594,036 shares of company stock worth $72,407,434. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of research reports. JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price target on shares of Cloudflare in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. UBS Group lifted their price target on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Morgan Stanley lifted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Down 2.9 %

NET opened at $151.83 on Friday. The company has a fifty day moving average price of $130.11 and a 200-day moving average price of $103.08. The firm has a market capitalization of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company 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.