MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 54,437 Shares of Cloudflare, Inc. (NYSE:NET)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,218 shares of the company's stock after selling 54,437 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Cloudflare were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Larson Financial Group LLC lifted its stake in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares during the last quarter. CoreCap Advisors LLC increased its stake in Cloudflare by 218.4% in the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock worth $60,000 after purchasing an additional 380 shares during the period. Sava Infond d.o.o. bought a new stake in Cloudflare in the fourth quarter valued at approximately $65,000. Whittier Trust Co. boosted its stake in shares of Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares during the period. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Cloudflare in the fourth quarter worth approximately $66,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

NYSE NET traded up $2.99 during trading hours on Tuesday, hitting $172.69. The company's stock had a trading volume of 2,719,996 shares, compared to its average volume of 3,132,924. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company's 50 day simple moving average is $127.67 and its two-hundred day simple moving average is $125.52. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $59.86 billion, a P/E ratio of -784.95 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last announced 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 company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business's revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on NET. Guggenheim increased their price target on shares of Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and upped their price objective for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Needham & Company LLC raised their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. UBS Group boosted their price target on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $141.79.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $116.47, for a total transaction of $6,101,164.48. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at $48,150,212.11. This represents a 11.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Zatlyn sold 25,640 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the completion of the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $54,095,091.05. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,085 shares of company stock worth $65,810,967. Insiders own 12.83% of the company's stock.

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.