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

Siemens Fonds Invest GmbH lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 32.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in Cloudflare during the 4th quarter worth about $56,000. Menard Financial Group LLC bought a new stake in Cloudflare during the 4th quarter worth about $449,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Cloudflare during the 4th quarter worth about $16,846,000. Employees Retirement System of Texas grew its holdings in Cloudflare by 14.0% during the 4th quarter. Employees Retirement System of Texas now owns 52,087 shares of the company’s stock worth $5,609,000 after acquiring an additional 6,381 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Cloudflare during the 4th quarter worth about $273,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $48,150,212.11. This trade represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $107.29, for a total transaction of $2,750,915.60. Following the sale, the insider now directly owns 413,413 shares in the company, valued at $44,355,080.77. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,085 shares of company stock worth $65,312,967. Company insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NET. Morgan Stanley increased their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. UBS Group raised their target price on shares of Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Capital One Financial raised shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $151.00 target price (up previously from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average target price of $141.79.

Cloudflare Stock Up 1.2%

Cloudflare stock opened at $166.21 on Friday. The company’s 50 day simple moving average is $126.70 and its 200 day simple moving average is $124.52. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market capitalization of $57.61 billion, a price-to-earnings ratio of -755.50 and a beta of 1.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

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