Cloudflare, Inc. (NYSE:NET) Holdings Decreased by Man Group plc

Man Group plc lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 80.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,968 shares of the company's stock after selling 293,640 shares during the period. Man Group plc's holdings in Cloudflare were worth $7,534,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of Cloudflare by 38.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company's stock worth $515,000 after purchasing an additional 1,326 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Cloudflare by 28.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company's stock worth $679,000 after purchasing an additional 1,390 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new position in Cloudflare during the fourth quarter worth about $217,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $213,000. Finally, LVW Advisors LLC boosted its position in Cloudflare by 14.4% during the fourth quarter. LVW Advisors LLC now owns 6,668 shares of the company's stock worth $718,000 after acquiring an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NET shares. Wells Fargo & Company boosted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Morgan Stanley raised their price target on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Oppenheimer lifted their target price on shares of Cloudflare from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group cut their price objective 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, Royal Bank of Canada lowered their price objective on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and a consensus price target of $141.79.

Cloudflare Stock Up 0.1%

Shares of NYSE:NET traded up $0.24 during trading on Friday, hitting $158.45. 1,675,613 shares of the company were exchanged, compared to its average volume of 3,160,384. The stock has a market capitalization of $54.68 billion, a P/E ratio of -720.20 and a beta of 1.78. 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 12-month low of $66.24 and a 12-month high of $177.37. The firm's 50 day moving average price is $122.55 and its 200-day moving average price is $122.50.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now owns 293,582 shares in the company, valued at $35,229,840. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at $59,961,421.52. The trade was a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 564,297 shares of company stock valued at $73,906,935. 12.83% of the stock is owned by company insiders.

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.