Bank Julius Baer & Co. Ltd Zurich Acquires 15,991 Shares of Cloudflare, Inc. (NYSE:NET)

Bank Julius Baer & Co. Ltd Zurich boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 63.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,319 shares of the company's stock after purchasing an additional 15,991 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Cloudflare were worth $3,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NET. Vanguard Group Inc. increased its holdings in Cloudflare by 1.5% in the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company's stock valued at $1,728,448,000 after purchasing an additional 395,363 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Cloudflare in the fourth quarter worth about $27,288,000. QRG Capital Management Inc. bought a new stake in shares of Cloudflare in the third quarter worth about $9,165,000. International Assets Investment Management LLC bought a new stake in shares of Cloudflare in the fourth quarter worth about $11,639,000. Finally, California Public Employees Retirement System increased its holdings in shares of Cloudflare by 24.9% in the third quarter. California Public Employees Retirement System now owns 523,856 shares of the company's stock worth $33,024,000 after acquiring an additional 104,517 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NET shares. KeyCorp increased their price target on Cloudflare from $94.00 to $132.00 and gave the stock an "overweight" rating in a report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on Cloudflare from $53.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. DZ Bank cut Cloudflare from a "buy" rating to a "hold" rating and set a $110.00 price objective for the company. in a research report on Tuesday, February 13th. Mizuho reduced their price objective on Cloudflare from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 15th. Finally, Royal Bank of Canada upped their price objective on Cloudflare from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $87.08.

Cloudflare Stock Performance

Shares of NYSE NET traded up $1.25 during midday trading on Friday, hitting $88.01. 1,763,933 shares of the company's stock were exchanged, compared to its average volume of 2,346,044. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00. The company's 50 day moving average price is $94.89 and its 200 day moving average price is $82.70. The firm has a market capitalization of $29.72 billion, a PE ratio of -160.02 and a beta of 1.12.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. As a group, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company's stock, valued at approximately $30,002,489.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company's stock, valued at approximately $30,002,489.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares of the company's stock, valued at $1,152,389.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,046,356 shares of company stock valued at $101,906,480. Insiders own 14.80% of the company's stock.

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.