Asset Management One Co. Ltd. Sells 10,200 Shares of Cloudflare, Inc. (NYSE:NET)

Asset Management One Co. Ltd. decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,107 shares of the company's stock after selling 10,200 shares during the quarter. Asset Management One Co. Ltd. owned 0.06% of Cloudflare worth $24,804,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NET. NBC Securities Inc. bought a new position in Cloudflare in the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its position in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare during the 4th quarter worth approximately $43,000. Finally, Global Financial Private Client LLC lifted its position in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after buying an additional 381 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 9,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the transaction, the insider now directly owns 188,406 shares in the company, valued at approximately $21,257,848.98. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 515,987 shares of company stock worth $77,174,354. Corporate insiders own 10.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NET shares. Piper Sandler reissued a "neutral" rating and set a $151.00 target price (up previously from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Susquehanna dropped their target price on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. KeyCorp started coverage on shares of Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 target price on the stock. The Goldman Sachs Group dropped their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Morgan Stanley lifted their target price 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $145.92.

Cloudflare Stock Up 2.0%

NET opened at $190.16 on Thursday. The company has a fifty day moving average price of $151.66 and a 200-day moving average price of $134.13. The firm has a market capitalization of $65.91 billion, a P/E ratio of -826.78 and a beta of 1.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. Cloudflare, Inc. has a one year low of $69.26 and a one year high of $192.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The firm had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The firm's revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company 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.

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