Union Bancaire Privee UBP SA Acquires New Shares in Cloudflare, Inc. (NYSE:NET)

Union Bancaire Privee UBP SA acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,846 shares of the company's stock, valued at approximately $4,506,000.

Several other large investors have also recently bought and sold shares of the business. Capital World Investors boosted its stake in shares of Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after acquiring an additional 260,415 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after purchasing an additional 68,661 shares during the period. Groupama Asset Managment purchased a new position in shares of Cloudflare in the 4th quarter worth about $269,200,000. Norges Bank purchased a new position in shares of Cloudflare in the 4th quarter worth about $249,544,000. Finally, American Century Companies Inc. raised its holdings in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

Shares of NET traded down $9.09 during midday trading on Thursday, reaching $170.62. The stock had a trading volume of 7,888,054 shares, compared to its average volume of 3,146,331. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $181.81. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm's 50 day moving average price is $138.12 and its 200-day moving average price is $129.38. The company has a market capitalization of $59.14 billion, a P/E ratio of -775.55 and a beta of 1.84.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on NET shares. The Goldman Sachs Group dropped their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, March 14th. KeyCorp assumed coverage on Cloudflare in a research report on Friday, June 6th. They issued an "overweight" rating and a $210.00 target price for the company. UBS Group lifted their target price on Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price for the company in a research report on Monday, May 12th. Finally, Needham & Company LLC lifted their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and an average target price of $145.92.

Insider Buying and Selling

In other Cloudflare news, Director Katrin Suder sold 608 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $172.00, for a total transaction of $104,576.00. Following the transaction, the director now owns 41,785 shares of the company's stock, valued at $7,187,020. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $54,095,091.05. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 555,976 shares of company stock valued at $74,746,733. Insiders own 12.83% of the company's stock.

Cloudflare 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.