Cloudflare, Inc. (NYSE:NET) Shares Sold by Lbp Am Sa

LBP AM SA decreased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 68.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,546 shares of the company's stock after selling 214,125 shares during the quarter. LBP AM SA's holdings in Cloudflare were worth $11,105,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Mather Group LLC. raised its holdings in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares during the period. NBC Securities Inc. bought a new stake in shares of Cloudflare during the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare in the 4th quarter worth $43,000. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $193.94, for a total transaction of $2,909,100.00. Following the sale, the director directly owned 1,058,073 shares of the company's stock, valued at approximately $205,202,677.62. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 9,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $196.09, for a total value of $1,764,810.00. Following the sale, the insider owned 160,377 shares in the company, valued at $31,448,325.93. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 581,060 shares of company stock valued at $95,040,197 over the last quarter. 10.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NET has been the topic of several research analyst reports. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. KeyCorp assumed 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. Cowen restated a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Piper Sandler restated a "neutral" rating and set a $151.00 target price (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Finally, Guggenheim upped their price target on shares of Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $148.92.

Cloudflare Stock Down 0.1%

Shares of NET traded down $0.10 during midday trading on Friday, hitting $181.82. 1,378,043 shares of the company's stock traded hands, compared to its average volume of 3,737,351. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $198.01. The firm's fifty day moving average is $168.30 and its 200-day moving average is $140.02. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $63.02 billion, a price-to-earnings ratio of -790.53 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business 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 business's revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.