Bank Julius Baer & Co. Ltd Zurich Purchases 753 Shares of Cloudflare, Inc. (NYSE:NET)

Bank Julius Baer & Co. Ltd Zurich lifted its position in Cloudflare, Inc. (NYSE:NET) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,778 shares of the company’s stock after acquiring an additional 753 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cloudflare were worth $1,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NET. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare in the 3rd quarter worth $25,588,000. Parnassus Investments LLC grew its position in Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares during the period. Geode Capital Management LLC grew its position in Cloudflare by 2.6% during the third 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 period. Generate Investment Management Ltd bought a new position in Cloudflare during the fourth quarter valued at about $12,946,000. Finally, Los Angeles Capital Management LLC grew its position in Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after buying an additional 116,130 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 3.4 %

Shares of NET opened at $126.57 on Monday. The firm’s 50 day simple moving average is $135.81 and its 200 day simple moving average is $107.51. The company has a market capitalization of $43.67 billion, a P/E ratio of -575.30 and a beta of 1.27. 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, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at $19,489,020.12. This trade represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 623,046 shares of company stock worth $79,594,844 over the last ninety days. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NET shares. Guggenheim upped their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. JMP Securities upped their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $136.28.

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.