Cloudflare, Inc. (NYSE:NET) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,768 shares of the company's stock after selling 6,470 shares during the quarter. Tidal Investments LLC's holdings in Cloudflare were worth $1,806,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NET shares. Needham & Company LLC upped their target price on shares of Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Cantor Fitzgerald raised their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Guggenheim lifted their price objective on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $141.79.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the 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 transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $48,150,212.11. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares of the company's stock, valued at approximately $35,229,840. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 511,913 shares of company stock valued at $66,395,593. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Up 2.4%

NYSE:NET traded up $3.73 during trading hours on Tuesday, hitting $161.77. The stock had a trading volume of 2,907,072 shares, compared to its average volume of 3,159,374. The company has a market cap of $55.82 billion, a PE ratio of -735.32 and a beta of 1.78. The business has a 50 day simple moving average of $123.37 and a two-hundred day simple moving average of $122.97. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year 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 (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. Analysts predict that Cloudflare, Inc. will post -0.11 EPS 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.