Banco Bilbao Vizcaya Argentaria S.A. Has $10.54 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,424 shares of the company's stock after selling 14,566 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Cloudflare were worth $10,540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC lifted its holdings in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Whittier Trust Co. boosted its stake in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after acquiring an additional 329 shares during the period. Finally, Sava Infond d.o.o. bought a new position in shares of Cloudflare during the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NET. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and boosted their target price for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of Cloudflare from $154.00 to $144.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group cut their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Cantor Fitzgerald upped their price objective on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and an average target price of $134.84.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the transaction, the chief financial officer now owns 252,869 shares of the company's stock, valued at $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at $59,279,290.07. This represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 506,973 shares of company stock worth $65,761,303. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 2.5 %

Shares of Cloudflare stock traded down $3.07 during midday trading on Wednesday, reaching $119.16. 960,721 shares of the company's stock traded hands, compared to its average volume of 3,173,981. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company's 50 day simple moving average is $119.30 and its 200 day simple moving average is $115.91. The company has a market cap of $41.12 billion, a price-to-earnings ratio of -541.64 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.