Lansforsakringar Fondforvaltning AB publ Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 97,505 shares of the company's stock, valued at approximately $10,499,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in Cloudflare during the fourth quarter valued at $129,000. Wealthedge Investment Advisors LLC acquired a new stake in Cloudflare during the fourth quarter valued at $794,000. Park Square Financial Group LLC acquired a new stake in Cloudflare during the fourth quarter valued at $56,000. Menard Financial Group LLC acquired a new stake in Cloudflare during the fourth quarter valued at $449,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Cloudflare during the fourth quarter valued at $16,846,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Trading Up 2.4%

Cloudflare stock traded up $3.97 during midday trading on Monday, hitting $169.86. 2,692,791 shares of the stock were exchanged, compared to its average volume of 3,134,571. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $58.87 billion, a price-to-earnings ratio of -772.08 and a beta of 1.78. The stock's 50-day simple moving average is $127.67 and its 200 day simple moving average is $125.52. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Cloudflare's revenue was up 26.5% on a year-over-year basis. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 41,556 shares of Cloudflare stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total value of $6,515,149.68. Following the completion of the transaction, the chief financial officer now owns 241,550 shares in the company, valued at approximately $37,870,209. The trade was a 14.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the completion of the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $48,501,613.16. This trade represents a 11.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 504,085 shares of company stock worth $65,810,967. Corporate insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley increased their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. UBS Group increased their price objective on shares of Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus target price of $141.79.

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.