Cloudflare, Inc. (NYSE:NET) Stock Holdings Cut by Tairen Capital Ltd

Tairen Capital Ltd cut its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 84.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company's stock after selling 56,000 shares during the quarter. Tairen Capital Ltd's holdings in Cloudflare were worth $1,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC increased its stake in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after buying an additional 58 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after acquiring an additional 77 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after acquiring an additional 94 shares in the last quarter. Baxter Bros Inc. increased its position in shares of Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after acquiring an additional 100 shares during the last quarter. Finally, Ellevest Inc. lifted its stake in shares of Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

NYSE:NET traded up $1.55 during mid-day trading on Thursday, hitting $158.07. The stock had a trading volume of 2,082,883 shares, compared to its average volume of 3,152,871. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a 50 day simple moving average of $120.84 and a 200-day simple moving average of $121.13. The stock has a market capitalization of $54.54 billion, a price-to-earnings ratio of -718.49 and a beta of 1.78. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results 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 business 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 firm posted $0.16 EPS. The business's quarterly revenue was up 26.5% on a year-over-year basis. On average, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Needham & Company LLC upped their price target on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 16th. Finally, Guggenheim boosted their target price on shares of Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $141.79.

Insider Buying and Selling at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $59,961,421.52. This represents a 11.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 529,199 shares of company stock valued at $68,401,233 in the last quarter. Corporate insiders own 12.83% of the company's stock.

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.