Triglav Skladi D.O.O. Sells 3,000 Shares of Cloudflare, Inc. (NYSE:NET)

Key Points

• Triglav Skladi D.O.O. has reduced its stake in Cloudflare, Inc. by 33.3%, selling 3,000 shares, resulting in a total of 6,000 shares valued at $676,000 as of the latest reporting period.
• A number of large investors have significantly increased their positions in Cloudflare, with Mather Group boosting its holdings by 1,188.2% during the same quarter.
• Analysts have generally positive outlooks on Cloudflare, with multiple firms increasing their price targets, including Mizuho raising theirs from $220.00 to $240.00 and rating it as "outperform."

Triglav Skladi D.O.O. lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the company's stock after selling 3,000 shares during the quarter. Triglav Skladi D.O.O.'s holdings in Cloudflare were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Cloudflare by 86.8% in the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after purchasing an additional 508 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Cloudflare by 9.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares during the last quarter. Amalgamated Bank raised its position in shares of Cloudflare by 7.0% in the 1st quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after purchasing an additional 1,400 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Cloudflare by 47.0% in the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock worth $639,000 after purchasing an additional 1,896 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 35,098 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the completion of the transaction, the insider directly owned 6,390 shares in the company, valued at approximately $1,002,143.70. The trade was a 84.60% decrease in their position. 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 business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the transaction, the chief executive officer owned 381,213 shares of the company's stock, valued at approximately $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 586,294 shares of company stock valued at $106,298,200. Insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE:NET traded down $4.16 during mid-day trading on Thursday, reaching $195.18. 2,534,555 shares of the company traded hands, compared to its average volume of 3,323,098. The company's 50 day moving average price is $191.31 and its 200-day moving average price is $154.30. The firm has a market cap of $68.02 billion, a PE ratio of -574.07 and a beta of 1.84. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a 52 week low of $74.88 and a 52 week high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The company had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%. The firm's revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NET. KeyCorp lifted their price target on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Cantor Fitzgerald lifted their price target on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. JMP Securities boosted their target price on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, July 28th. Oppenheimer reissued an "outperform" rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, Scotiabank boosted their target price on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.88.

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.