Siemens Fonds Invest GmbH Has $227,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Siemens Fonds Invest GmbH reduced its position in Cloudflare, Inc. (NYSE:NET) by 32.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,109 shares of the company’s stock after selling 993 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Cloudflare were worth $227,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NET. Square Peg Capital PTY Ltd. bought a new position in shares of Cloudflare during the 4th quarter worth about $7,215,000. Rafferty Asset Management LLC raised its position in Cloudflare by 9.3% in the fourth quarter. Rafferty Asset Management LLC now owns 24,040 shares of the company’s stock worth $2,589,000 after purchasing an additional 2,053 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Cloudflare during the fourth quarter worth about $386,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $163,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Cloudflare by 31.5% in the 4th quarter. Quantinno Capital Management LP now owns 39,575 shares of the company’s stock worth $4,261,000 after buying an additional 9,482 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NET. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Truist Financial boosted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley increased their target price on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Guggenheim boosted their price target on shares of Cloudflare from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $141.79.

Cloudflare Stock Performance

Cloudflare stock opened at $157.06 on Monday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market cap of $54.20 billion, a PE ratio of -713.89 and a beta of 1.78. The company’s 50-day moving average is $118.38 and its two-hundred day moving average is $120.14.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $152.68, for a total value of $7,997,989.12. Following the sale, the chief executive officer now directly owns 10,426 shares in the company, valued at $1,591,841.68. This trade represents a 83.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 597,260 shares of company stock worth $79,553,032. Company insiders own 12.83% 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.