CANADA LIFE ASSURANCE Co Lowers Stock Holdings in Cloudflare, Inc. (NYSE:NET)

CANADA LIFE ASSURANCE Co decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 364,315 shares of the company's stock after selling 5,107 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Cloudflare worth $39,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in Cloudflare by 52.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 206,005 shares of the company's stock valued at $22,183,000 after purchasing an additional 71,292 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in Cloudflare in the 4th quarter valued at $315,000. NewEdge Advisors LLC raised its holdings in Cloudflare by 121.1% during the fourth quarter. NewEdge Advisors LLC now owns 9,770 shares of the company's stock worth $1,052,000 after buying an additional 5,352 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings in shares of Cloudflare by 3.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 3,456 shares of the company's stock valued at $372,000 after buying an additional 121 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

NET stock traded up $6.13 during midday trading on Thursday, reaching $118.93. 1,447,737 shares of the company's stock traded hands, compared to its average volume of 3,979,401. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a 50-day moving average price of $122.77 and a two-hundred day moving average price of $114.76. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $41.04 billion, a PE ratio of -540.46 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,613 shares of company stock valued at $67,732,853. Corporate insiders own 12.83% of the company's stock.

Analyst Ratings Changes

NET has been the subject of a number of analyst reports. Susquehanna lifted their price target on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Oppenheimer started coverage on Cloudflare in a report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target for the company. UBS Group cut their price objective on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus raised their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $134.84.

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.