Tidal Investments LLC Has $1.81 Million Position in Cloudflare, Inc. (NYSE:NET)

Tidal Investments LLC cut its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 27.8% in the 4th quarter, according to its most recent Form 13F 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 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Hartline Investment Corp grew its holdings in Cloudflare by 1.5% in the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock worth $28,464,000 after buying an additional 3,957 shares in the last quarter. Birchcreek Wealth Management LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at $215,000. Strategic Blueprint LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at $265,000. Clarendon Private LLC acquired a new position in shares of Cloudflare in the fourth quarter worth $293,000. Finally, Savant Capital LLC acquired a new position in shares of Cloudflare in the fourth quarter worth $237,000. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cloudflare currently has an average rating of "Hold" and a consensus price target of $141.79.

Cloudflare Stock Up 1.0%

Shares of Cloudflare stock traded up $1.62 during trading on Thursday, reaching $163.60. The company's stock had a trading volume of 905,774 shares, compared to its average volume of 3,154,890. The company has a 50-day simple moving average of $125.11 and a two-hundred day simple moving average of $123.51. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $56.45 billion, a price-to-earnings ratio of -743.82 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $469.49 million. During the same period last year, the firm earned $0.16 EPS. The business's quarterly revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,098 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $156.83, for a total value of $5,504,419.34. Following the sale, the insider now owns 6,390 shares of the company's stock, valued at $1,002,143.70. This represents a 84.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,085 shares of company stock valued at $65,312,967 in the last three months. 12.83% of the stock is owned by corporate insiders.

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.