Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Cloudflare, Inc. (NYSE:NET)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,689 shares of the company’s stock after acquiring an additional 1,360 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cloudflare were worth $9,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Stratos Wealth Partners LTD. boosted its stake in shares of Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after acquiring an additional 77 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after acquiring an additional 105 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Cloudflare by 0.5% during the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $113.38 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $136.44 and a two-hundred day simple moving average of $108.28. The stock has a market capitalization of $39.12 billion, a P/E ratio of -515.35 and a beta of 1.27.

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 return on equity of 5.52% and a negative net margin of 4.72%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of several recent analyst reports. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. JMP Securities raised their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $130.92.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $59,961,421.52. The trade was a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 571,766 shares of company stock valued at $73,804,307. Company insiders own 12.83% of the company’s stock.

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.