Lbp Am Sa Lowers Stock Position in Cloudflare, Inc. (NYSE:NET)

LBP AM SA lowered its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 68.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NET. Groupama Asset Managment acquired a new stake in Cloudflare in the fourth quarter valued at $269,200,000. Norges Bank acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $249,544,000. American Century Companies Inc. raised its position in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares during the period. Finally, Invesco Ltd. boosted its holdings in Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after acquiring an additional 804,059 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

NET stock traded down $11.66 during mid-day trading on Thursday, hitting $181.83. The company had a trading volume of 3,855,927 shares, compared to its average volume of 3,158,602. Cloudflare, Inc. has a 12 month low of $69.26 and a 12 month high of $198.01. The stock's fifty day moving average price is $168.30 and its two-hundred day moving average price is $140.02. The firm has a market cap of $63.02 billion, a PE ratio of -790.57 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20.

Cloudflare (NYSE:NET - Get Free Report) last posted 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). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The firm had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the previous year, the company posted $0.16 EPS. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total transaction of $6,515,149.68. Following the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at $37,870,209. The trade was a 14.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business'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 sale, the chief executive officer owned 10,426 shares in the company, valued at approximately $1,591,841.68. The trade was a 83.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,292 shares of company stock worth $75,299,286. 10.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price for the company in a research note on Monday, May 12th. Capital One Financial raised shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Finally, Needham & Company LLC lifted their target price on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $145.92.

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.