Union Bancaire Privee UBP SA Invests $4.51 Million in Cloudflare, Inc. (NYSE:NET)

Union Bancaire Privee UBP SA bought a new stake in Cloudflare, Inc. (NYSE:NET) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 40,846 shares of the company’s stock, valued at approximately $4,506,000.

Other large investors have also recently made changes to their positions in the company. Choreo LLC raised its position in shares of Cloudflare by 3.0% in the fourth quarter. Choreo LLC now owns 4,766 shares of the company’s stock worth $519,000 after acquiring an additional 137 shares during the period. Empowered Funds LLC increased its stake in shares of Cloudflare by 13.3% in the 4th quarter. Empowered Funds LLC now owns 4,960 shares of the company’s stock valued at $534,000 after purchasing an additional 582 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Cloudflare in the 4th quarter valued at about $237,000. Sovran Advisors LLC acquired a new position in Cloudflare in the 4th quarter worth about $231,000. Finally, Certuity LLC boosted its position in Cloudflare by 13.0% during the fourth quarter. Certuity LLC now owns 2,880 shares of the company’s stock worth $310,000 after purchasing an additional 331 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 0.2%

Shares of NET opened at $179.70 on Thursday. The company’s 50-day moving average price is $136.67 and its 200 day moving average price is $128.91. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $181.81. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $62.29 billion, a P/E ratio of -816.82 and a beta of 1.84.

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

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at $48,501,613.16. This trade represents a 11.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the completion of the transaction, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $54,095,091.05. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 555,976 shares of company stock valued at $74,746,733. Company insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC boosted their price objective on Cloudflare from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 9th. The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Piper Sandler reiterated a “neutral” rating and issued a $151.00 target price (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Morgan Stanley boosted their price target 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. Finally, Jefferies Financial Group dropped their price objective on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $145.92.

Cloudflare 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.