Bank Julius Baer & Co. Ltd Zurich Increases Position in Cloudflare, Inc. (NYSE:NET)

Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 63.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 41,319 shares of the company’s stock after buying an additional 15,991 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cloudflare were worth $3,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NET. CWM LLC lifted its stake in shares of Cloudflare by 3.4% during the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after buying an additional 153 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Cloudflare by 61.5% during the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock valued at $90,000 after buying an additional 581 shares during the period. SG Americas Securities LLC lifted its stake in shares of Cloudflare by 377.1% during the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock valued at $1,749,000 after buying an additional 21,930 shares during the period. Handelsbanken Fonder AB increased its position in Cloudflare by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 94,392 shares of the company’s stock worth $5,950,000 after purchasing an additional 736 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Cloudflare by 9.0% during the third quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock worth $3,588,000 after purchasing an additional 4,685 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JMP Securities upped their price target on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target for the company. Needham & Company LLC upped their price target on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their price target on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus target price of $87.08.

Cloudflare Trading Up 1.4 %

Cloudflare stock opened at $87.98 on Friday. The firm’s 50-day moving average is $94.89 and its 200-day moving average is $82.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a market cap of $29.71 billion, a P/E ratio of -159.96 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, equities analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 277,376 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at approximately $3,899,597.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the transaction, the chief executive officer now owns 12,183 shares of the company’s stock, valued at approximately $1,152,389.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michelle Zatlyn sold 277,376 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the transaction, the chief operating officer now directly owns 38,545 shares in the company, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Insiders have sold a total of 1,046,356 shares of company stock valued at $101,906,480 in the last quarter. Company 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.