Sava Infond d.o.o. Takes Position in Cloudflare, Inc. (NYSE:NET)

Sava Infond d.o.o. purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 600 shares of the company’s stock, valued at approximately $65,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Quarry LP raised its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC raised its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the period. Versant Capital Management Inc lifted its position in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the period. Finally, Whittier Trust Co. increased its position in shares of Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after acquiring an additional 329 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 618,046 shares of company stock valued at $80,142,792 over the last ninety days. Insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $118.62 on Friday. The stock’s 50-day simple moving average is $137.52 and its 200-day simple moving average is $111.05. The firm has a market capitalization of $40.93 billion, a PE ratio of -539.17 and a beta of 1.27. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research 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 several recent analyst reports. JMP Securities upped their price objective 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. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Truist Financial lifted their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald boosted their price objective on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Piper Sandler lowered their target price on Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and an average target price of $135.64.

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.