Public Employees Retirement System of Ohio Sells 5,898 Shares of Cloudflare, Inc. (NYSE:NET)

Public Employees Retirement System of Ohio trimmed its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 103,027 shares of the company's stock after selling 5,898 shares during the period. Public Employees Retirement System of Ohio's holdings in Cloudflare were worth $11,094,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare during the 4th quarter valued at $43,000. Larson Financial Group LLC grew its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares during the period. CoreCap Advisors LLC grew its holdings in Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock valued at $60,000 after purchasing an additional 380 shares during the period. Whittier Trust Co. grew its stake in shares of Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after acquiring an additional 329 shares during the period. Finally, Sava Infond d.o.o. bought a new position in Cloudflare in the 4th quarter worth approximately $65,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NET. The Goldman Sachs Group cut their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective for the company. in a report on Tuesday, February 11th. Morgan Stanley lifted their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Cantor Fitzgerald lifted their price target on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Three 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $141.79.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the completion of the sale, the insider now directly owns 413,413 shares in the company, valued at $54,095,091.05. The trade was a 5.84% decrease in their ownership of the stock. 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 Cloudflare stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 413,413 shares of the company's stock, valued at approximately $48,150,212.11. This trade represents a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 511,913 shares of company stock worth $66,395,593. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Up 0.2%

Shares of Cloudflare stock traded up $0.33 during trading on Wednesday, hitting $162.09. The company's stock had a trading volume of 3,383,831 shares, compared to its average volume of 3,163,453. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a fifty day simple moving average of $125.11 and a two-hundred day simple moving average of $123.51. The company has a market capitalization of $55.93 billion, a PE ratio of -736.77 and a beta of 1.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Cloudflare 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.