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

Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 63.1% in the 4th quarter, Holdings Channel.com reports. The fund 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.

Other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG grew its stake in shares of Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after acquiring an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $569,000. International Assets Investment Management LLC bought a new position in shares of Cloudflare during the 4th quarter worth approximately $11,639,000. Blueshift Asset Management LLC grew its stake in shares of Cloudflare by 100.2% in the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after buying an additional 12,974 shares in the last quarter. Finally, LA Financiere DE L Echiquier raised its position in Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after acquiring an additional 17,600 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 10,015 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the completion of the transaction, the director now owns 1,204,815 shares of the company’s stock, valued at approximately $107,421,305.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Carl Ledbetter sold 10,015 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the sale, the director now owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the sale, the chief financial officer now owns 338,469 shares in the company, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,046,356 shares of company stock valued at $101,906,480. Corporate insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NET. JPMorgan Chase & Co. lifted their target price on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Truist Financial lifted their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Needham & Company LLC lifted their price objective 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. JMP Securities lifted their price objective 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. Finally, DZ Bank cut shares of 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. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.08.

Cloudflare Price Performance

Cloudflare stock opened at $87.98 on Friday. 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 52 week low of $39.90 and a 52 week high of $116.00. The stock has a market capitalization of $29.71 billion, a P/E ratio of -159.96 and a beta of 1.12. The stock has a fifty day moving average of $94.89 and a 200-day moving average of $82.70.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $352.70 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

About Cloudflare

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.