Lbp Am Sa Sells 214,125 Shares of Cloudflare, Inc. (NYSE:NET)

Lbp Am Sa lessened its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 68.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,546 shares of the company's stock after selling 214,125 shares during the period. Lbp Am Sa's holdings in Cloudflare were worth $11,105,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NET. Mather Group LLC. raised its stake in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. acquired a new stake in shares of Cloudflare in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of 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 purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 purchasing an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the 4th quarter valued at $43,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. UBS Group raised their price objective on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Guggenheim boosted their price objective on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Friday, May 9th. Finally, Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $145.92.

Cloudflare Trading Up 0.6%

Shares of NET stock opened at $193.99 on Thursday. The company's fifty day simple moving average is $167.12 and its two-hundred day simple moving average is $139.54. 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 1 year low of $69.26 and a 1 year high of $198.01. The stock has a market capitalization of $67.24 billion, a price-to-earnings ratio of -843.43 and a beta of 1.85.

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

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $152.68, for a total value of $7,997,989.12. Following the transaction, the chief executive officer owned 10,426 shares of the company's stock, valued at approximately $1,591,841.68. This represents a 83.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,098 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the completion of the transaction, the insider directly owned 6,390 shares in the company, valued at approximately $1,002,143.70. The trade was a 84.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,292 shares of company stock valued at $75,299,286. 10.89% of the stock is currently 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.

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