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

Skandinaviska Enskilda Banken AB publ boosted its position in Cloudflare, Inc. (NYSE:NET) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its holdings in Cloudflare by 9.4% during the third quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock worth $252,000 after acquiring an additional 269 shares during the period. Prime Capital Investment Advisors LLC raised its stake in shares of Cloudflare by 5.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock worth $543,000 after purchasing an additional 338 shares during the period. Main Street Financial Solutions LLC grew its position in Cloudflare by 15.3% during the third quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company’s stock valued at $240,000 after buying an additional 392 shares during the period. KBC Group NV increased its holdings in Cloudflare by 0.9% during the third quarter. KBC Group NV now owns 37,237 shares of the company’s stock worth $3,012,000 after buying an additional 329 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in Cloudflare by 5.1% in the third quarter. Metis Global Partners LLC now owns 3,786 shares of the company’s stock worth $306,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NET. Robert W. Baird reissued a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. DZ Bank lowered 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. Wells Fargo & Company increased their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Needham & Company LLC dropped their price objective on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $130.04.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 571,766 shares of company stock valued at $73,804,307 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

Cloudflare stock opened at $115.83 on Friday. 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. The stock has a market cap of $39.97 billion, a P/E ratio of -526.50 and a beta of 1.27. The firm’s fifty day moving average price is $136.48 and its 200-day moving average price is $108.74.

Cloudflare (NYSE:NET) last released its quarterly earnings results 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%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.