Swedbank AB Has $1.53 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Swedbank AB raised its stake in shares of Cloudflare, Inc. (NYSE:NET) by 128.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,941 shares of the company’s stock after buying an additional 10,656 shares during the period. Swedbank AB’s holdings in Cloudflare were worth $1,532,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NET. Elo Mutual Pension Insurance Co increased its holdings in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after acquiring an additional 136 shares during the last quarter. Quarry LP grew its holdings in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Forum Financial Management LP raised its position in shares of Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 34.4% during the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after buying an additional 171 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Up 0.4 %

Shares of NYSE NET opened at $90.80 on Friday. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The business has a fifty day moving average of $82.39 and a two-hundred day moving average of $81.01. The stock has a market cap of $30.85 billion, a PE ratio of -171.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm posted ($0.12) EPS. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of several recent analyst reports. Scotiabank began coverage on shares of Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 target price on the stock. BNP Paribas assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Guggenheim raised their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Mizuho upped their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $91.72.

Insider Transactions at Cloudflare

In related news, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.17, for a total transaction of $231,510.00. Following the sale, the insider now owns 195,303 shares of the company’s stock, valued at $15,071,532.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 507,552 shares of company stock valued at $41,631,505 in the last three months. 12.83% of the stock is owned by corporate insiders.

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.