Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 156,448 Cloudflare, Inc. (NYSE:NET)

Universal Beteiligungs und Servicegesellschaft mbH 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 Form 13F filing with the SEC. The fund purchased 156,448 shares of the company's stock, valued at approximately $16,846,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment acquired a new position in Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank acquired a new position in Cloudflare in the fourth quarter valued at about $249,544,000. American Century Companies Inc. lifted its position in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC lifted its position in Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after buying an additional 836,591 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after buying an additional 804,059 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $48,150,212.11. This represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $107.29, for a total value of $2,750,915.60. Following the completion of the sale, the insider now directly owns 413,413 shares of the company's stock, valued at $44,355,080.77. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 504,085 shares of company stock worth $65,810,967 over the last three months. Insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NET shares. Jefferies Financial Group decreased their target price on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC boosted their price target on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Guggenheim boosted their price target on shares of Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average target price of $141.79.

Cloudflare Stock Up 1.0%

Shares of NET stock traded up $1.77 during trading hours on Tuesday, reaching $171.47. 970,011 shares of the stock were exchanged, compared to its average volume of 3,126,263. The business's fifty day moving average is $127.67 and its two-hundred day moving average is $125.52. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The firm has a market capitalization of $59.43 billion, a P/E ratio of -779.41 and a beta of 1.78.

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

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.