Forsta AP Fonden Cuts Holdings in Cloudflare, Inc. (NYSE:NET)

Forsta AP Fonden decreased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,800 shares of the company’s stock after selling 5,200 shares during the quarter. Forsta AP Fonden’s holdings in Cloudflare were worth $4,788,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Forum Financial Management LP increased its holdings in Cloudflare by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after purchasing an additional 162 shares during the period. Soltis Investment Advisors LLC increased its holdings in Cloudflare by 0.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC increased its holdings in Cloudflare by 34.4% during the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares during the period. Bleakley Financial Group LLC increased its holdings in Cloudflare by 5.6% during the 1st quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock worth $322,000 after purchasing an additional 178 shares during the period. Finally, Joel Isaacson & Co. LLC increased its holdings in Cloudflare by 2.7% during the 1st quarter. Joel Isaacson & Co. LLC now owns 6,949 shares of the company’s stock worth $673,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. The sale was disclosed in a document filed 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 Thursday, June 20th. The shares were sold at an average price of $78.47, for a total value of $1,177,050.00. Following the completion of the transaction, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at $24,320,756.39. The disclosure for this sale can be found here. In the last three months, insiders sold 597,702 shares of company stock valued at $48,088,422. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Guggenheim upped their price objective on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Cantor Fitzgerald upped their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Susquehanna upped their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.29.

Cloudflare Stock Down 0.3 %

NET opened at $78.59 on Friday. The business has a 50 day moving average price of $79.69 and a two-hundred day moving average price of $83.16. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market cap of $26.70 billion, a PE ratio of -148.28 and a beta of 1.10. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00.

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