Two Sigma Advisers LP Trims Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Two Sigma Advisers LP lowered its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 90.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after selling 826,100 shares during the period. Two Sigma Advisers LP's holdings in Cloudflare were worth $9,691,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares in the last quarter. CoreCap Advisors LLC increased its stake in Cloudflare by 218.4% in 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 last quarter. Whittier Trust Co. raised its holdings in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares in the last quarter. Sava Infond d.o.o. purchased a new stake in shares of Cloudflare during the 4th quarter worth approximately $65,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Cloudflare in the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48. Following the completion of the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $48,150,212.11. This trade represents a 11.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 511,913 shares of company stock valued at $66,395,593. 12.83% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of NYSE:NET traded up $3.12 on Tuesday, reaching $161.16. 1,686,281 shares of the company were exchanged, compared to its average volume of 3,154,838. The company has a 50-day moving average of $123.37 and a 200-day 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. The firm has a market cap of $55.61 billion, a price-to-earnings ratio of -733.27 and a beta of 1.78. 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 issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NET shares. DZ Bank lowered shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price target on the stock. in a research note on Tuesday, February 11th. Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Wednesday, April 16th. JMP Securities raised their price target on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Finally, Needham & Company LLC increased their price objective on Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $141.79.

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.