Cloudflare, Inc. (NYSE:NET) Shares Acquired by Slow Capital Inc.

Slow Capital Inc. boosted its position in Cloudflare, Inc. (NYSE:NET) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,389 shares of the company’s stock after acquiring an additional 787 shares during the quarter. Cloudflare accounts for about 0.8% of Slow Capital Inc.’s holdings, making the stock its 25th biggest holding. Slow Capital Inc.’s holdings in Cloudflare were worth $5,749,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NET. Foundations Investment Advisors LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth about $1,861,000. KBC Group NV boosted its holdings in shares of Cloudflare by 9.2% in the fourth quarter. KBC Group NV now owns 40,655 shares of the company’s stock valued at $4,378,000 after acquiring an additional 3,418 shares during the period. Capital Asset Advisory Services LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $249,000. Blue Trust Inc. raised its position in Cloudflare by 35.2% in the 4th quarter. Blue Trust Inc. now owns 3,308 shares of the company’s stock valued at $356,000 after purchasing an additional 861 shares during the last quarter. Finally, Clarendon Private LLC acquired a new stake in Cloudflare during the 4th quarter worth $293,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NET shares. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler boosted their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. UBS Group increased their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.92.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $18,370,199.43. This represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $21,403,676.25. This trade represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 641,132 shares of company stock worth $69,429,058 in the last ninety days. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $126.58 on Tuesday. The stock has a fifty day moving average price of $111.39 and a 200 day moving average price of $93.18. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $130.65. The firm has a market capitalization of $43.44 billion, a P/E ratio of -486.86 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Equities research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

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.