Tredje AP fonden Sells 751 Shares of Cloudflare, Inc. (NYSE:NET)

Tredje AP fonden trimmed its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,921 shares of the company’s stock after selling 751 shares during the quarter. Tredje AP fonden’s holdings in Cloudflare were worth $3,969,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Cloudflare in the 2nd quarter valued at about $29,000. ICA Group Wealth Management LLC acquired a new position in Cloudflare during the 4th quarter valued at about $38,000. Finally, Versant Capital Management Inc increased its holdings in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.65, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now owns 195,303 shares of the company’s stock, valued at $16,141,792.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $84.97, for a total transaction of $1,274,550.00. Following the sale, the chief financial officer now owns 309,937 shares in the company, valued at approximately $26,335,346.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.65, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now owns 195,303 shares of the company’s stock, valued at $16,141,792.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 557,062 shares of company stock worth $44,910,811. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NET opened at $78.09 on Thursday. 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 stock has a market capitalization of $26.53 billion, a price-to-earnings ratio of -147.34 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The stock’s 50-day simple moving average is $79.44 and its 200 day simple moving average is $82.64.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Cloudflare’s revenue for the quarter was up 30.0% on a year-over-year basis. Research analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Mizuho upped their target price on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Scotiabank started coverage on shares of Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target on the stock. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a research note on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $92.29.

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.