LGT Group Foundation Has $9.56 Million Holdings in Cloudflare, Inc. $NET

LGT Group Foundation decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,025 shares of the company’s stock after selling 14,629 shares during the quarter. LGT Group Foundation’s holdings in Cloudflare were worth $9,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NET. Physician Wealth Advisors Inc. boosted its stake in shares of Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 65 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare during the 2nd quarter worth approximately $29,000. ORG Wealth Partners LLC increased its position in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares in the last quarter. Finally, Cloud Capital Management LLC bought a new position in Cloudflare in the 3rd quarter valued at approximately $31,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 41,557 shares of Cloudflare stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the transaction, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. The trade was a 32.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $194.77, for a total value of $10,202,831.68. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 577,492 shares of company stock valued at $107,933,433 in the last three months. Insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on NET shares. Cantor Fitzgerald restated a “neutral” rating and issued a $224.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. Scotiabank dropped their price target on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Wells Fargo & Company raised their price objective on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Friday, February 13th. Finally, Argus upped their target price on Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.70.

Cloudflare Trading Up 1.3%

Shares of NYSE NET opened at $194.79 on Monday. The firm has a 50 day moving average price of $184.30 and a two-hundred day moving average price of $202.59. The stock has a market cap of $68.23 billion, a P/E ratio of -671.67 and a beta of 1.98. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.