Swiss National Bank Trims Holdings in Cloudflare, Inc. (NYSE:NET)

Swiss National Bank lowered its holdings in Cloudflare, Inc. (NYSE:NET) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 859,700 shares of the company’s stock after selling 33,900 shares during the period. Swiss National Bank owned approximately 0.25% of Cloudflare worth $92,572,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare in the third quarter valued at approximately $25,588,000. Hartline Investment Corp grew its holdings in shares of Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after purchasing an additional 3,957 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares in the last quarter. Birchcreek Wealth Management LLC acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $215,000. Finally, Strategic Blueprint LLC acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $265,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Cloudflare stock opened at $115.83 on Friday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a market cap of $39.97 billion, a PE ratio of -526.50 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a fifty day moving average price of $136.45 and a two-hundred day moving average price of $108.31.

Cloudflare (NYSE:NET) last issued 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 net margin of 4.72% and a negative return on equity of 5.52%. Research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the completion of the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,766 shares of company stock worth $73,804,307. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Mizuho lowered their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial boosted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Needham & Company LLC lowered their price target on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a report on Thursday. Finally, JMP Securities boosted 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. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $130.04.

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.