Sovran Advisors LLC Makes New Investment in Cloudflare, Inc. (NYSE:NET)

Sovran Advisors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,059 shares of the company's stock, valued at approximately $231,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock valued at $390,130,000 after buying an additional 121,810 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after purchasing an additional 29,960 shares during the last quarter. Swiss National Bank lifted its position in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company's stock worth $72,283,000 after purchasing an additional 10,100 shares in the last quarter. National Pension Service lifted its position in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Cloudflare by 16.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock worth $42,602,000 after purchasing an additional 56,906 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Transactions at Cloudflare

In related news, COO Michelle Zatlyn sold 35,118 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company's stock, valued at $18,212,582.70. This represents a 16.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 528,970 shares of company stock valued at $59,959,801. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

NYSE NET traded down $5.52 on Monday, reaching $170.98. The stock had a trading volume of 3,555,331 shares, compared to its average volume of 3,196,727. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $58.68 billion, a P/E ratio of -777.19 and a beta of 1.12. The firm has a fifty day moving average of $126.45 and a two-hundred day moving average of $101.15.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.04 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NET. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Mizuho lifted their target price on Cloudflare from $130.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th. UBS Group boosted their price target on Cloudflare from $130.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group upped their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average target price of $135.28.

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.