USS Investment Management Ltd Sells 6,209 Shares of Cloudflare, Inc. (NYSE:NET)

USS Investment Management Ltd reduced its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,221 shares of the company's stock after selling 6,209 shares during the period. USS Investment Management Ltd's holdings in Cloudflare were worth $5,844,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Woodline Partners LP bought a new stake in shares of Cloudflare during the 4th quarter worth $6,638,000. Vident Advisory LLC boosted its holdings in shares of Cloudflare by 42.6% during the 4th quarter. Vident Advisory LLC now owns 27,591 shares of the company's stock worth $2,971,000 after buying an additional 8,239 shares during the period. Sphera Management Technology Funds Ltd bought a new stake in shares of Cloudflare during the 4th quarter worth $959,000. Triglav Skladi D.O.O. bought a new stake in shares of Cloudflare during the 4th quarter worth $969,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Cloudflare by 7.0% during the 4th quarter. Toronto Dominion Bank now owns 39,763 shares of the company's stock worth $4,282,000 after buying an additional 2,605 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Trading Up 0.2%

Shares of NYSE:NET traded up $0.32 during trading on Wednesday, hitting $162.08. 859,633 shares of the company's stock were exchanged, compared to its average volume of 3,150,498. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a 50-day moving average price of $124.25 and a two-hundred day moving average price of $123.24. 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 $55.93 billion, a P/E ratio of -737.11 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. Equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the transaction, the insider now owns 188,406 shares of the company's stock, valued at $21,257,848.98. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 511,913 shares of company stock worth $66,395,593 in the last quarter. 12.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

NET has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Cloudflare from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Capital One Financial raised shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Needham & Company LLC increased 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. DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price target for the company. in a report on Tuesday, February 11th. Finally, UBS Group raised their price objective on shares of Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $141.79.

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.