Elo Mutual Pension Insurance Co Trims Holdings in Cloudflare, Inc. (NYSE:NET)

Elo Mutual Pension Insurance Co cut its position in Cloudflare, Inc. (NYSE:NET) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,023 shares of the company’s stock after selling 721 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cloudflare were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew 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 acquiring an additional 121,810 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after buying an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after buying an additional 63,945 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after acquiring an additional 2,483 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 3.1 %

NET opened at $114.89 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The business has a 50 day moving average price of $137.47 and a two-hundred day moving average price of $111.31. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $120.40, for a total value of $3,087,056.00. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $20,824,263.60. This represents a 12.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 618,046 shares of company stock worth $80,142,792. Company insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NET shares. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Mizuho decreased their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and increased their price objective for the company from $60.00 to $160.00 in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $135.64.

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.