Skandinaviska Enskilda Banken AB publ Purchases 516 Shares of Cloudflare, Inc. (NYSE:NET)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,968 shares of the company’s stock after purchasing an additional 516 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cloudflare were worth $6,647,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NET. Quarry LP lifted its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Quest Partners LLC purchased a new stake in Cloudflare in the third quarter worth $54,000. Larson Financial Group LLC boosted its holdings in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc increased its position in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NET shares. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. Susquehanna upped their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $130.04.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. This trade represents a 11.25 % 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 valued at $73,804,307 in the last ninety days. 12.83% of the stock is currently owned by company insiders.

Cloudflare Price Performance

NYSE NET opened at $115.83 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of -526.50 and a beta of 1.27. The stock has a 50-day moving average of $136.48 and a 200 day moving average of $108.74. 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 data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.