Gulf International Bank UK Ltd Reduces Position in Cloudflare, Inc. (NYSE:NET)

Gulf International Bank UK Ltd decreased its stake in shares of Cloudflare, Inc. (NYSE:NETFree Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,677 shares of the company’s stock after selling 2,494 shares during the period. Gulf International Bank UK Ltd’s holdings in Cloudflare were worth $1,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NET. Sunbelt Securities Inc. purchased a new position in Cloudflare during the first quarter worth $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Cloudflare during the third quarter worth $38,000. Providence Capital Advisors LLC boosted its holdings in shares of Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after purchasing an additional 2,426 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after purchasing an additional 514 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares during the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $96.41 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The business has a 50-day moving average price of $91.69 and a 200 day moving average price of $77.12.

Cloudflare (NYSE:NETGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating 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 the consensus estimate of $352.70 million. On average, analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NET shares. Susquehanna raised their price objective on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Sanford C. Bernstein started coverage on Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price (up previously from $70.00) on shares of Cloudflare in a report on Friday, February 9th. KeyCorp lifted their target price on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their target price on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.50.

Read Our Latest Research Report on Cloudflare

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 30,214 shares of Cloudflare stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $76.03, for a total value of $2,297,170.42. Following the completion of the transaction, the director now directly owns 1,539,316 shares in the company, valued at $117,034,195.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at $40,351,461.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 30,214 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $76.03, for a total value of $2,297,170.42. Following the transaction, the director now owns 1,539,316 shares of the company’s stock, valued at $117,034,195.48. The disclosure for this sale can be found here. Insiders sold a total of 1,079,436 shares of company stock worth $101,070,085 over the last ninety days. Company insiders own 14.80% of the company’s stock.

Cloudflare Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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